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 suggests the Israel-Iran war may end soon while hinting at future military actions and mixed messages on U.S. involvement.

The comments helped lift markets and ease energy fears even as details on any ceasefire remain vague.