U.S. President Donald Trump on Monday predicted the war in the Middle East could be over soon, even as Iran's hardliners staged a show of loyalty to new Supreme Leader Mojtaba Khamenei in a sign that it was not prepared to back down any time soon, Reuters reported. 

The ​conflicting signals sent markets on a rollercoaster, with oil prices surging and stock markets nosediving before swinging in the other direction after Trump's comments and reports of a possible ease in sanctions on Russian energy.

Khamenei, ‌56, a Shi'ite cleric with a power base among the security forces and their vast business empire, has been declared unacceptable by Trump, who has demanded Iran's unconditional surrender, according to Reuters.