Bloomberg published an exclusive report on Thursday (September 10), stating that Iran and the United States are preparing for a protracted war. Even if the conflict remains at low intensity, there are barely any signs of a ceasefire in the short run, and the likelihood of a return to normal energy supply in the Middle East is slim.

(Screenshot source: Bloomberg)

Citing a senior Iranian official, Bloomberg reported that amid mounting economic pressure, Iran’s leadership remains determined to keep fighting, as they view this conflict as vital to national survival.

The official said Iran has successfully rebuilt part of its missile capabilities. If the United States further expands its scope of attacks, Tehran will escalate strikes against US and Gulf region targets.

Meanwhile, US officials stated that senior White House advisors including Vice President JD Vance and Secretary of State Marco Rubio have told US President Donald Trump that the war could last until the end of his term in January 2029.

At present, the US-Iran conflict has fallen into a deadlock. Core issues including control over the Strait of Hormuz and Iran’s nuclear program remain unresolved.

Trump has repeatedly stated that the US launched the war to stop Iran from developing nuclear weapons. However, since Israel and the US attacked Iran’s large-scale nuclear facilities in June 2025, the International Atomic Energy Agency (IAEA) has been unable to verify the status and exact location of Iran’s near weapons-grade enriched uranium stockpiles.

The IAEA said on Thursday it has observed construction activity at Iran’s "Pickaxe Mountain" site. The location is believed to be a heavily fortified facility suspected of nuclear-related activities. Trump has mentioned the site twice recently and warned that the US may launch new strikes.

Promise of "Immediate War End" Faces Challenges

The US and Iran preparing for long-term confrontation contradicts Trump’s recent remarks that the war would "end immediately" after the midterm elections on November 3.

The Middle East conflict has become one of the focal points of the election while driving energy prices higher. Brent crude oil once rose to $105 per barrel on Thursday.

The United States is attempting to force Tehran back to the negotiating table by blockading Iranian ports and threatening countries that fail to take more steps to sever economic ties with Iran.

Trump told reporters: "Iran cannot hold on any longer, and they are desperate to influence this election."

But multiple diplomatic sources in the region disagree with this assessment.

A diplomatic source familiar with the matter revealed that Oman is negotiating with Iran on new shipping arrangements for the Strait of Hormuz, yet Omani officials have not seen US economic pressure making Iran more willing to reach an agreement.

The anonymous diplomat said several European countries share the same view.

Oman’s foreign ministry has not immediately responded to requests for comment.

Strait of Hormuz at the Heart of War, Oil Prices Keep Surging

Brent crude oil climbed more than 9% this week amid rising ship attacks near the Strait of Hormuz.

The Strait of Hormuz has become the core zone of this conflict. Before the war broke out, roughly one-fifth of global oil and liquefied natural gas shipments passed through this critical waterway, yet volumes have dropped sharply due to hostilities.

According to Iran’s semi-official Tasnim News Agency, the Islamic Revolutionary Guard Corps stated that if the US attacks two targets, Iran will strike 20 targets in retaliation.

Earlier this week, a US warship was forced to evade an Iranian attack. The US then launched retaliatory strikes on Iranian oil tankers, and Iran responded by attacking US bases in Jordan and multiple commercial vessels.

At the same time, Iran-backed Houthi forces in Yemen are operating on another front, mainly targeting infrastructure in southern Saudi Arabia. The New York Times reported that the Houthis have defeated most troops of Yemen’s internationally recognized government in the Red Sea coastal city of Mokha.

Iran Warns: Sanctions Cannot Halt Its Combat Operations

Iran is sending signals that US blockades of its PeRSIan Gulf ports and further sanctions will not weaken its capacity to continue fighting.

Even with domestic inflation climbing to roughly 90% and continuous depreciation of its local currency, Iran states it will press ahead with military operations.

Iran’s defense ministry issued a statement on Thursday: "The defense industry continues to advance along a more steadfast, dynamic, intelligent and advanced path."

The statement also read: "Soon, you will see the tip of this iceberg."