Photo|BBC

The benchmark oil price dipped on Tuesday after US President Donald Trump said the war with Iran would end “very soon.”

Oil had surged past $100 a barrel on Monday before Trump described the conflict as “very far ahead of schedule” and “very complete, pretty much,” prompting a retreat toward $90 a barrel—still well above pre-war levels.

Despite his comments, analysts noted Trump offered little clarity on the timeline or details. He later warned Iran it could face retaliation “twenty times harder” if it attempted to block the Strait of Hormuz.

Iran has reportedly threatened to stop all oil exports from the region if US or Israeli attacks continue.

Earlier on Monday, Trump spoke with Russian President Vladimir Putin and suggested some oil sanctions could be lifted, without specifying which countries might be affected.