According to CoinMeta, Trump hinted that, as negotiations to end the eight-month-long US-Iran conflict continue, it is unlikely that the United States will launch a new round of attacks on Iran, which pushed up stock markets in the Gulf region at the beginning of Monday's trading session. Despite both the US and Iran reporting attacks on vessels in the Strait of Hormuz and nearby waters, Trump made the aforementioned remarks. The Strait of Hormuz is a vital waterway, through which nearly one-fifth of the world's crude oil transportation passes before the war. Trump had previously hinted after last week's mid-term elections that he might launch another attack, but the US has not yet taken large-scale military action. Tehran has warned that if the US launches another attack, Iran will retaliate against US and Israeli targets. A senior UAE official Anwar Gargash warned on Monday that since it seems difficult for Washington and Tehran to reach a comprehensive political agreement, the Middle East may face a period of long-term instability. Gargash stated at a geo-political conference held in Abu Dhabi, the UAE's capital: "We should be prepared for long-term uncertainty. During this time, we cannot expect a decisive resolution to the conflict, nor can we assume that regional order will remain stable."