Iran live updates: Trump says 'no chance' Iran war will last rest of his term

Secretary of State Pete Hegseth said the U.S. is ensuring Iran "will never have a nuclear weapon," saying the U.S. controls the Strait of Hormuz and will finish the fight.

"The economic pressure tightens every day. We control the strait. We will finish this fight," Hegseth said during a 9/11 ceremony at the Pentagon on Friday.

"The United States has killed their leaders, destroyed their air force and their navy rests at the bottom of the sea," Hegseth said.

President Donald Trump dismissed reports Thursday night that his advisors have warned him the Iran war could last through the end of his term.

"No there's not even a chance of that," the president said.

The president's timeline has shifted repeatedly. He initially said the war would last four to six weeks.

The president was also asked about oil prices increasing as the war with Iran continues. Trump repeated his claims that prices will drop once the war ends.

“When that ends, I think it'll end very shortly after the election -- could end before the election -- but I think it'll end very shortly after the election, the prices will go down to less than $2 a barrel, $2 a gallon for oil,” he said.

-ABC News' Rachel Scott

Several U.S. warplanes were damaged in Iran’s attack on Muwaffaq Salti Air Base in Jordan earlier this week, two sources with knowledge of the incident told ABC News Thursday.

One A-10 attack aircraft was hit and lost a wing, while about eight F-15 fighter jets sustained light damage and were put back into service, they said.

The president had denied reports about U.S. aircraft damage during a news interview earlier Thursday.

-ABC News' Luis Martinez and Shannon Kingston

Iran has resumed producing limited numbers of ballistic missiles at underground sites, relying on components that were stored before the war began, a U.S. official familiar with the latest intelligence assessments on the matter told ABC News.

According to the official, Iran is manufacturing the weapons at a significantly slower rate than it was before the conflict.

It’s unclear whether Iran will be able to continue manufacturing the missiles after its stockpiles run dry, as damage to the country’s production sites and the ongoing U.S. blockade have complicated its ability to make or procure the necessary parts, they said.

The intelligence findings were first reported by the Wall Street Journal.

-ABC News' Shannon Kingston