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Trump Says Iran Wants to Settle; Sees Oil Falling to $50/bbl Once Situation Stabilizes

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President Donald Trump said Wednesday that Iran wants to reach a settlement and signaled that the US could either negotiate an agreement or intensify its campaign.

Trump made the remarks while speaking at the Pennsylvania Defense and Innovation Summit.

"They want to settle so badly. They don't like what we're doing, and they do want to settle. We'll find out whether or not we settle with them...," Trump said.

Trump said Iran should have been confronted years ago, arguing previous US administrations failed to act. "It should have been done 47 years ago," he said.

Trump said recent US military action has had only a limited impact on oil markets. "A lot of people thought oil would go up to $350 a barrel, and today it's at $79," he said, noting oil traded at about $68/bbl a couple of days earlier.

Trump said oil prices rose after the US took military action because Iran failed to comply, but stressed the increase remained well below what many had expected.

He added that once the situation stabilizes, oil prices could fall to $50/bbl, signaling that they could go lower as well.

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