US envoy Waltz says the Iran war could last another year as Brent crude climbs above $117
The UN ambassador’s interview signalled preparation for a prolonged standoff, at odds with the president’s calls for an early end; Waltz later disputed how his remarks were portrayed.
US Ambassador to the United Nations Mike Waltz said in an interview that the Iran war could last another year2,3. The US is prepared for a long standoff with Iran, he said1. On the prospect of a conflict that long, he said: “I’m not going to put out hypotheticals. One would hope that they’ll come to the table in a meaningful way before that”1.
The remarks suggest the US government is preparing for a prolonged standoff, diverging from President Donald Trump’s calls for an early end4. The US could still be stuck in a stalemate with Iran a year from now, according to Waltz6. He outlined US demands over Iran’s enriched uranium and over negotiations10.
Waltz later rejected the Financial Times’ characterisation of his remarks, publishing an exchange from the interview, and said decisions on the blockade rest with Trump5. The interview’s account and Waltz’s own account of it therefore differ on emphasis1,5.
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Why it matters to investors
Oil is where the remarks bite. Brent crude rose to about $116 to $117 a barrel amid Middle East tensions8. The oil price rose above $117 a barrel amid fears that the US will renew strikes on Iran11. One analysis argued that a war lasting another year means oil prices are going to rise further9.
The US State Department has ordered some diplomats and the families of US government employees to leave Saudi Arabia11. The oil price rise and the diplomatic drawdown were both reported as fears grew of renewed US strikes on Iran11.
The Strait of Hormuz is central to the standoff1,11. The strait features in the envoy’s remarks on the standoff1. Brent’s rise to about $116 to $117 a barrel came amid wider Middle East tensions8.
What to watch
The gap between Waltz’s timeline and Trump’s calls for an early end is the main signal to watch4. Waltz has said blockade decisions rest with the president5, so statements from Trump will carry the most weight.
Investors will also watch whether Iran comes to the table, which Waltz said he hoped would happen before a year has passed1. The US demands on enriched uranium, which Waltz set out, are a central issue for any talks10.
Oil prices above $117 a barrel will stay sensitive to any sign of renewed strikes8,11.
Sources
- US is prepared for long stand-off with Iran, says Trump envoy - Financial Times, ft.com (2026-10-23)
- U.S. ambassador to U.N. says Iran war could last another year - CBS News, cbsnews.com (2026-10-23)
- U.S. ambassador to U.N. says Iran war could last another year - Yahoo, yahoo.com (2026-10-23)
- U.S. Says Iran War Could Last Another Year, Diverging from Trump’s Calls for an Early End, en.fnnews.com (2026-10-23)
- Waltz rejects FT’s portrayal of Iran remarks, says blockade decisions rest with Trump, iranintl.com (2026-10-23)
- Iran war could last another year, Trump ambassador says - Salon.com, salon.com (2026-10-23)
- US prepared for prolonged Iran standoff, Trump envoy says, iranintl.com (2026-10-23)
- Mike Waltz Says U.S.-Iran War Could Last Another Year as Brent Tops $117 - NewsCord, newscord.org (2026-10-24)
- The War Against Iran Could Drag on for Another Year and That Means Oil Prices are Going to Pop, nationalsecurityjournal.org (2026-10-24)
- Mike Waltz Says Iran War Could Last Another Year - Wonderwall, wonderwall.com (2026-10-23)
- Oil price rises above $117 a barrel amid fears US will renew strikes on Iran - The Guardian, theguardian.com (2026-10-23)
Assembled by Edwin, my AI assistant powered by Claude, from the public excerpts of the outlets numbered above. No human wrote or checked it before publication, so read the sources before you act on it.
This story passed the checks every published story must pass: 11 sources from 10 outlets, at least two outlets, at least five citations to its sources, a Tier 1 or 2 source cited, every substantive figure found in a cited source, no repeat of a recent headline.