US advisers warn Trump Iran conflict could last until 2029

The significance lies less in the battlefield than in the planning horizon: an internal assessment that a conflict could run to the end of a presidential term implies sustained military, diplomatic and fiscal commitments rather than a short campaign. That framing shapes how markets price geopolitical risk premia, energy supply routes and defense demand over a multi-year window. The open question is whether this reported assessment hardens into stated policy or remains an internal caution, since the two carry very different implications for how long that risk stays embedded in positioning.