Trump calls Strait of Hormuz 'something that we don't need'

Oil-rich countries agreed to make 400 million barrels of oil from their emergency reserves available to the market in the largest-ever release of oil reserves in International Energy Agency history.

The 32 IEA member countries unanimously agreed to the decision, aiming to address disruptions in oil markets stemming from the war in the Middle East.

“The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size,” said IEA Executive Director Fatih Birol on Wednesday.

President Donald Trump told Axios in a phone interview Wednesday that there is “practically nothing left to target” in Iran and that he’ll end the war “any time I want,” according to a report.

The president said Iran “will not get off that easy” after targeting several countries in the Middle East.

"They were after the rest of the Middle East. They are paying for 47 years of death and destruction they caused. This is payback. They will not get off that easy," the president reportedly said.

Trump also repeated that the war is going well.

“The war is going great. We are way ahead of the timetable. We have done more damage than we thought possible, even in the original six-week period," he told Axios.

-ABC News' Fritz Farrow

The joint operation against Iran being carried out by the Israel and United States will continue for "as long as necessary," Israeli Defense Minister Israel Katz said Wednesday.

"This operation will continue Without any time limit, as long as necessary, until we achieve all the objectives and win the campaign," Katz said at a meeting with military leaders in Tel Aviv.

"We will continue to act and crush the regime and also the strategic objectives of this regime in Tehran and throughout Iran day after day, target after target," Katz said. "We will continue to do this also to enable the Iranian people to rise up and act and overthrow this regime. Ultimately, it depends on them."

Katz described what's left of the Iranian leadership as "cowards" that "flee like mice into the tunnels."

-ABC News' Jordana Miller

The Islamic Republic Guard Corps navy conducted strikes on two vessels in Strait of Hormuz since morning Wednesday, the IRGC public relations said in a statement.

The statement says that the ships "Express Room," and "Mayuree Naree" were targeted by fire from Iranian combatants "after ignoring alerts and warnings from the IRGC Navy."

IRGC naval commander Adm. Alireza Tangsiri also said in a post in Persian on social media that "every vessel intending to pass must obtain permission from Iran."

-ABC News' Somayeh Malekian and Maryam Moqaddam