‘Oil prices will soon come plummeting down’: Trump says US can ‘annihilate Iran quickly’, expects deal…

The latest market report highlights that US President Donald Trump used his 2026 address to the United Nations General Assembly to portray the United States as stronger and more powerful under his administration, while defending military action against Iran, warning Tehran over its nuclear programme and claiming progress in ending several international conflicts. The 81st UN General Assembly’s high-level general debate began on September 22 in New York.

Opening his address, Trump announced, “America is back — and our country is stronger today than ever before.”

He contrasted the current state of the US with the situation two years earlier, saying, “Two years ago, our country was dead. Now, we have the hottest country anywhere in the world.”

Trump additionally reiterated several claims around the US economy and domestic situation. He stated America was “leading in all sectors”, household incomes had increased, and the country had “the most secure border in the world”. He stated illegal migration had been stopped, crime had fallen by 27%, and the US remained “No. 1 in tech”.

Trump additionally pointed to financial markets, saying the “American stock market has made records” and that “Our money was being taken by the world”. Iran and the nuclear offering

A major part of the address focused on Iran. Trump described Iran as the “number one sponsor of terror” and stated he had remained committed to preventing Tehran from obtaining a nuclear weapon.

“From the first day I entered the political arena, I have been unwavering — I will never allow Iran to have a nuclear weapon,” Trump stated.

He referred to the September 11 attacks in the US and the October 7 attack in Israel while warning around the consequences of Iran acquiring nuclear capabilities. Trump stated the US had given Iran opportunities to reach an agreement before taking military action.

“After giving Iran every chance for a deal, I took action to ensure that neither the United States, nor any nation in this hall, would ever have to face such a nightmare,” he stated.

Trump then presented what he described as a choice between a negotiated settlement and further military action.

“I have a big decision to make,” he stated, asking whether there would be a deal that allowed Iran to rebuild or whether he should “annihilate the Islamic Republic” and “drive them into hell”.

He additionally stated the US could “annihilate Iran quickly” if necessary.

Iran deal and US midterm elections

Trump stated he anticipated a deal with Iran after the US election, arguing that Tehran was waiting to see how Republicans perform in the midterm elections.

“I believe we'll make a deal right after the election, because it doesn't make sense for them not to,” Trump stated.

He stressed that he would not himself be contesting the midterms. “I’m not running in the midterms,” he stated, adding that he had already won the presidency “in a giant landslide” and would stay in office for another two and a half years.

Trump additionally stated the election would not determine his approach to Iran, saying the key offering was that “Iran will never have a nuclear weapon”.

Munitions and economic pressure

Trump rejected claims that the US was running low on ammunition, calling them “fake news”.

“We have a lot of ammunition,” he stated, adding that the US was increasing production. He stated 18 large munitions plants were at present under rapid construction.

Trump additionally called on other countries to join the US in imposing “complete economic isolation of Iran” until Tehran stops attacks on commercial shipping, abandons its nuclear ambitions and ends its backing for terrorism.

He stated the UN Security Council had overwhelmingly passed a resolution condemning Iran’s attacks on commercial shipping and urged countries to maintain pressure on Tehran.

Gaza and claims of ending wars

Trump additionally used the address to highlight his administration’s role in the Gaza conflict.

“One year ago when I addressed the great leaders in this Grand Hall, the War in Gaza was still raging brutally,” Trump stated, adding that there had been “no end in sight”.

He stated subsequent efforts had changed the situation and claimed, “A few weeks later, we ENDED the War in Gaza, saving untold thousands of lives.” Trump additionally stated all remaining hostages, both living and dead, had been brought home.

Trump stated that since taking office, he had “settle[d] eight wars”, naming Cambodia and Thailand, Kosovo and Serbia, the Democratic Republic of the Congo and Rwanda, Pakistan and India, Armenia and Azerbaijan, as well as Gaza among the conflicts he cited.

“While others have talked, I have acted. While others have spoken of peace, I have made peace. While others have ignored threats, I have confronted them,” Trump stated.

Trump additionally predicted a sharp slide in crude prices, saying, “crude prices will soon come plummeting down.” His comments came as the Iran conflict continued to affect energy markets and remained a major focus of the UN gathering.

On the broader US role in the Western Hemisphere, Trump issued another warning: “The United States will no longer permit threats to America to gain a foothold anywhere in the Western Hemisphere — and if necessary, we will use our unmatched military might to secure the vital national interests of the United States.”

Trump's address came as the Iran war remained central to his UN agenda, with the president seeking to defend the US military campaign while simultaneously presenting himself as a peacemaker. Ahead of the speech, notes suggested that Trump was anticipated to use the UN platform to defend the Iran war and highlight his efforts to resolve international conflicts