Trump signals end of Iran war as Gulf leaders gather in New York

Key points

• Trump told reporters in North Carolina that the U.S. is 'hopefully' toward the end of the war, claiming Iran wants a deal.
• The conflict, which began on Feb. 28, has expanded to Yemen with Houthi attacks on Saudi Arabia and a ground offensive to control the Bab el-Mandeb Strait.
• Trump is planning to meet leaders from the six Gulf Cooperation Council states on the sidelines of the UN General Assembly in New York next Tuesday.
• Saudi Arabia shut its East-West Pipeline after a drone attack, causing oil prices to fluctuate as it arranged alternative shipments via Oman.
• Trump told Axios he faces a 'big decision' on whether to significantly escalate military action against Iran, while Netanyahu seeks a meeting in New York.

Background

The current escalation follows months of rising tensions. In early September, Iran urged Saudi Arabia to lift a blockade after Houthis captured the Red Sea port of Mokha. Prior to that, in August, Houthi forces launched fresh missile and drone attacks on Saudi military sites in Hadramout and Marib, killing dozens of soldiers. These events have been part of a broader regional contest over shipping and oil routes linked to the U.S.-Israel campaign against Iran.

How outlets are covering it

CNBC and Axios emphasize the diplomatic track, focusing on Trump's comments about nearing the war's end and the upcoming meeting with Gulf leaders. The Jerusalem Post highlights the military dimension, noting Trump's threat to 'annihilate' Iran and reports of U.S. drones being shot down. All sources agree on the expansion of the conflict to Yemen and the economic impact on oil markets, but differ on the likelihood of a quick resolution versus further escalation.

Why it matters

The outcome of the upcoming talks in New York will determine the trajectory of the conflict, potentially affecting global oil supplies and regional stability. The expansion of the war to Yemen threatens critical shipping routes like the Bab el-Mandeb Strait, which could lead to prolonged supply disruptions and higher energy costs worldwide.

What to watch

Watch for the outcome of the meeting between Trump and Gulf leaders in New York next Tuesday. Monitor the status of Saudi Arabia's East-West Pipeline repairs and any further Houthi attacks on Saudi targets. Also, keep an eye on whether Iran engages in direct negotiations or if the conflict extends beyond 2028, as warned by analysts.