Watch live: Trump holds press conference as Iran war fallout roils oil market

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President Donald Trump is set to hold a press conference at his Miami-area golf club.

The president’s comments at Trump National Doral are coming within hours of him telling CBS News that the war against Iran could be over soon.

Trump’s speculation sent U.S. stock market indices higher.

Oil prices spiked over the weekend due to fears that the war could drag out and limit the supply of crude oil available on the world’s markets.

But crude prices fell in extended trading on Monday afternoon after Trump said he was considering seizing control of the Strait of Hormuz, which is the world’s most sensitive chokepoint for oil.

A spokesman for Iran’s Ministry of Foreign Affairs told CNBC earlier Monday that oil tankers passing through the Strait of Hormuz “must be very careful.”

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