The United States is using intermediaries to seek a diplomatic resolution to its conflict with Iran, President Donald Trump announced Monday. While the two nations are holding separate talks with mediators, Trump stated in the Oval Office that the US will win the war "one way or the other" and that the process would move "pretty quickly." Middle East oil exports hit a war-time high during these exchanges, and Gulf stocks ended the day trading mixed.

The diplomatic shift follows threats from Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who warned that regional energy infrastructure would be at risk if Tehran's security is not guaranteed. Ghalibaf asserted that no other country in the region would be able to export oil if Iran is prevented from selling its own supplies, characterizing Trump's recent comments on the Strait of Hormuz as reckless.