Investing.com -- President Donald Trump expressed skepticism Wednesday about reports that Iran has laid mines in the Strait of Hormuz, while reiterating his view that the ongoing conflict will conclude soon.

When asked by reporters whether Iran had placed mines in the strait, Trump responded, "We don't think so." This contradicts a Reuters report from Wednesday citing sources familiar with the matter who said the Islamic Republic has laid approximately a dozen mines in the waterway.

Trump encouraged American oil companies to continue using the Strait of Hormuz, telling reporters "they should" when asked if U.S. firms should navigate the route.

The president did not provide a specific timeline for ending the conflict, stating "we're not finished yet" and that the U.S. needed to keep doing "more of the same."

In an interview with Axios earlier, Trump said the war would end soon because there is "practically nothing left to target" in Iran. He made similar remarks Monday, though Defense Secretary Pete Hegseth subsequently stated there was no timeline for pursuing the Islamic Republic's total defeat.

U.S. Central Command warned civilians Wednesday via social media to "immediately avoid all port facilities where Iranian naval forces are operating" along the strait.

The International Energy Agency agreed to release 400 million barrels from emergency oil reserves, exceeding the 182 million barrels member countries discharged after Russia invaded Ukraine in 2022. Global crude consumption stands slightly above 100 million barrels daily, with Gulf producers forced to reduce output by roughly 6% thus far.

The UK Navy reported Wednesday that three vessels were struck with suspected projectiles in the Strait of Hormuz and the Persian Gulf. Oman said a Thai-flagged cargo vessel was also targeted.