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Create Free AccountU.S. Secretary of War Pete Hegseth has characterized the coming days as decisive for the 18-day conflict in Iran, warning that military strikes will persist in the absence of a formal deal. Simultaneously, President Donald Trump signaled a potential 'off-ramp' for the administration, suggesting a pivot toward de-escalation. In a notable policy shift, Trump called on other nations to secure their own oil shipments through the Strait of Hormuz, indicating a potential reduction in the U.S. role as a maritime guarantor. Hegseth further claimed that 'regime change' is effectively underway, citing an increase in military desertions within the Iranian armed forces. This rhetoric appears aimed at avoiding a full-scale ground war while shifting the burden of global energy security to international stakeholders. Market participants are currently weighing the bearish implications of de-escalation against the structural risks to oil supply chains if U.S. protection is withdrawn.