DUBAI/JERUSALEM/DORAL, Florida: US President Donald Trump on Monday threatened to escalate the war with Iran if it blocked oil shipments from the Middle East, even as he predicted a quick end to the conflict.

Trump’s ​warning came at the end of a day that saw global financial markets seesawing on concerns that Iran’s security establishment was rallying behind new Supreme Leader Mojtaba Khamenei and was not prepared to back down any time soon.

Trump said the United States had inflicted serious damage on Iran’s air force and navy and predicted the conflict would end well before the initial four-week time frame he had laid out, though he has not defined what victory would look like.

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