Trump's national address, in which he vowed to end the Iranian threat within two to three weeks, sent crude oil prices surging nearly 6%.
2026-04-02 10:17:35
US President Donald Trump delivered a national address from the White House at 9:00 AM Beijing time on Thursday (April 2nd), providing an update on the war with Iran. He stated that the war is nearing its end, the US is achieving its main objectives, and will launch a "very powerful" strike against Iran in the next two to three weeks.
Trump began by celebrating the successful launch of NASA's Artemis II spacecraft before turning to the issue of Iran. He emphasized that the United States has systematically destroyed the Iranian regime's ability to threaten the United States or project power abroad, stating, "We don't depend on their oil, and we don't need anything they have. We're there to help our allies."
In his speech, Trump listed the major achievements of the joint US-Israel operation, including the complete destruction of Iran's nuclear facilities (although Iran has attempted to rebuild them in other locations despite previous attacks), the dismantling of Iran's navy and air force, the destruction of the Islamic Revolutionary Guard Corps' command system, and the destruction of a large number of missile and drone launch capabilities as well as weapons factories.
He pointed out that former Iranian Supreme Leader Ayatollah Khamenei had been killed in the operation, and that most of the regime's leaders had been eliminated. Trump emphasized, "We are systematically dismantling the regime's ability to threaten the United States or project power abroad." He also mentioned that the United States had gained control of Venezuela's oil exports by overthrowing leader Maduro, in order to enhance the country's energy independence.
Trump reiterated that the war would end in two to three weeks, saying, "We're going to give them a really bad blow in the next two to three weeks... We're going to send them back to the Stone Age, and they deserve it." He indicated that if no agreement could be reached, the U.S. might simultaneously launch a heavy attack on all of Iran's power plants and oil facilities.
Nevertheless, he noted that negotiations were ongoing and that the "new president" of Iran had requested a ceasefire (Iran denies that negotiations are underway). Trump insisted that any ceasefire must include the reopening of the Strait of Hormuz. He made no mention of sending ground troops, emphasizing instead the need to quickly complete the mission and end the war .
US President Trump stated that the United States has virtually no need to import oil through the Strait of Hormuz, and that countries that need to obtain oil through the Strait of Hormuz must "take responsibility for maintaining this passage themselves."
Trump urged these countries to either "buy oil from the United States" or have the courage to go directly to the Strait of Hormuz to "steal oil." He claimed that the strait would "naturally open" when the war with Iran ended.
Trump blamed rising U.S. gasoline prices on Iran's "mad terrorist attacks" on commercial oil tankers and neighboring countries. This followed the U.S. national average gasoline price surpassing $4 for the first time since the start of the war, an increase of over 30%. The near closure of the Strait of Hormuz has caused the largest disruption to global oil supplies in history, with no oil tankers passing through the strait on Tuesday. Several airlines and logistics companies have raised fees to cope with rising costs, raising market concerns about a potential energy crisis similar to that of the 1970s.
During the speech, US crude oil prices surged by nearly $6, currently trading around $104 per barrel, a daily increase of about 4%, reversing a drop of more than 2% in the morning session.
(US crude oil 5-minute chart, source: FX678)
During the speech, Israel continued its airstrikes on Tehran. Canadian Prime Minister Mark Carney spoke with Trump and congratulated him on NASA's successful launch. Iranian President Masoud Pezeshkyan sent a letter to the American people, calling his actions "legitimate self-defense" and accusing the United States of being a proxy for Israel.
On the Democratic side, former Vice President Kamala Harris criticized Trump on social media for endangering the U.S. military and driving up the cost of living. House Democratic Leader Hakim Jeffries questioned whether war makes the U.S. safer and wanted Trump to clarify his plans to reopen the Strait of Hormuz.
In his first national address on the war with Iran, Trump declared victory and declared the operation nearing completion, emphasizing a heavy blow within two to three weeks to completely eliminate Iran's nuclear threat and military capabilities. He also maintained open negotiations but insisted on reopening the Strait of Hormuz as a condition for a ceasefire. High oil prices and rising gasoline costs were a focus of the speech, which Trump attributed to the Iranian actions. The speech highlighted the US's intention to quickly end the conflict, but Democrats criticized the high cost of the war, and markets remained wary of the risk of an energy crisis. The next two to three weeks will be a crucial window; the intensity of military action and diplomatic progress will jointly determine the final outcome of the conflict and the stability of global energy markets.
At 10:16 Beijing time, US crude oil futures were trading at $104.30 per barrel.
Trump began by celebrating the successful launch of NASA's Artemis II spacecraft before turning to the issue of Iran. He emphasized that the United States has systematically destroyed the Iranian regime's ability to threaten the United States or project power abroad, stating, "We don't depend on their oil, and we don't need anything they have. We're there to help our allies."
Major military achievements of the U.S. military
In his speech, Trump listed the major achievements of the joint US-Israel operation, including the complete destruction of Iran's nuclear facilities (although Iran has attempted to rebuild them in other locations despite previous attacks), the dismantling of Iran's navy and air force, the destruction of the Islamic Revolutionary Guard Corps' command system, and the destruction of a large number of missile and drone launch capabilities as well as weapons factories.
He pointed out that former Iranian Supreme Leader Ayatollah Khamenei had been killed in the operation, and that most of the regime's leaders had been eliminated. Trump emphasized, "We are systematically dismantling the regime's ability to threaten the United States or project power abroad." He also mentioned that the United States had gained control of Venezuela's oil exports by overthrowing leader Maduro, in order to enhance the country's energy independence.
Withdrawal timetable and negotiations
Trump reiterated that the war would end in two to three weeks, saying, "We're going to give them a really bad blow in the next two to three weeks... We're going to send them back to the Stone Age, and they deserve it." He indicated that if no agreement could be reached, the U.S. might simultaneously launch a heavy attack on all of Iran's power plants and oil facilities.
Nevertheless, he noted that negotiations were ongoing and that the "new president" of Iran had requested a ceasefire (Iran denies that negotiations are underway). Trump insisted that any ceasefire must include the reopening of the Strait of Hormuz. He made no mention of sending ground troops, emphasizing instead the need to quickly complete the mission and end the war .
Trump again encourages countries to go to the Strait of Hormuz
US President Trump stated that the United States has virtually no need to import oil through the Strait of Hormuz, and that countries that need to obtain oil through the Strait of Hormuz must "take responsibility for maintaining this passage themselves."
Trump urged these countries to either "buy oil from the United States" or have the courage to go directly to the Strait of Hormuz to "steal oil." He claimed that the strait would "naturally open" when the war with Iran ended.
Oil prices and market response
Trump blamed rising U.S. gasoline prices on Iran's "mad terrorist attacks" on commercial oil tankers and neighboring countries. This followed the U.S. national average gasoline price surpassing $4 for the first time since the start of the war, an increase of over 30%. The near closure of the Strait of Hormuz has caused the largest disruption to global oil supplies in history, with no oil tankers passing through the strait on Tuesday. Several airlines and logistics companies have raised fees to cope with rising costs, raising market concerns about a potential energy crisis similar to that of the 1970s.
During the speech, US crude oil prices surged by nearly $6, currently trading around $104 per barrel, a daily increase of about 4%, reversing a drop of more than 2% in the morning session.
(US crude oil 5-minute chart, source: FX678)
International reaction and domestic criticism in the United States
During the speech, Israel continued its airstrikes on Tehran. Canadian Prime Minister Mark Carney spoke with Trump and congratulated him on NASA's successful launch. Iranian President Masoud Pezeshkyan sent a letter to the American people, calling his actions "legitimate self-defense" and accusing the United States of being a proxy for Israel.
On the Democratic side, former Vice President Kamala Harris criticized Trump on social media for endangering the U.S. military and driving up the cost of living. House Democratic Leader Hakim Jeffries questioned whether war makes the U.S. safer and wanted Trump to clarify his plans to reopen the Strait of Hormuz.
Editor's Summary
In his first national address on the war with Iran, Trump declared victory and declared the operation nearing completion, emphasizing a heavy blow within two to three weeks to completely eliminate Iran's nuclear threat and military capabilities. He also maintained open negotiations but insisted on reopening the Strait of Hormuz as a condition for a ceasefire. High oil prices and rising gasoline costs were a focus of the speech, which Trump attributed to the Iranian actions. The speech highlighted the US's intention to quickly end the conflict, but Democrats criticized the high cost of the war, and markets remained wary of the risk of an energy crisis. The next two to three weeks will be a crucial window; the intensity of military action and diplomatic progress will jointly determine the final outcome of the conflict and the stability of global energy markets.
At 10:16 Beijing time, US crude oil futures were trading at $104.30 per barrel.
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