DUBAI, April 3 -- Iran fired more missiles at Israel and Gulf Arab states Thursday, demonstrating Tehran's continued ability to strike its neighbours even as US President Donald Trump claimed in a televised address the threat from the country was nearly eliminated but failed to provide a concrete timeline for ending the conflict, sparking global market and economic turmoil. Iran's attacks on Gulf states along with its chokehold on the Strait of Hormuz have disrupted the world's energy supplies with effects far beyond West Asia. That has proved to be Iran's greatest strategic advantage in the war. The Islamic Republic is drafting protocol with Oman to monitor traffic through the strait, state-run IRNA reported. That would require shippers to pay tolls to Iran, Deputy Foreign Minister Kazem Gharibabadi said in an interview with Sputnik. The statement came even as the UK hosted a meeting of multiple nations to finding diplomatic solutions to reopening the strait. Trump insisted the strait can be taken by force - but said it is not up to the US to do that. In his address to the American people early Thursday, he encouraged countries that depend on oil from Hormuz to "build some delayed courage" and go "take it." Before the US and Israel started the war on Feb. 28 with strikes on Iran, the waterway was open to traffic and 20% of all traded oil passed through it. In his address, Trump pledged to keep up the conflict for two to three weeks longer and "to hit each and every one of their electric-generating plants" if Tehran doesn't agree to US demands. He spent much of his time repeating some of the same things he said in recent weeks, including a threat to bomb the Islamic Republic "back to the Stone Ages" if it did not reopen the strait of Hormuz. Volatility returned to markets as Trump's comments dashed hopes of a quick end to the war. Oil prices remained elevated although down from earlier highs. The price for a barrel of US crude rose close to $114 a barrel at one point. Brent crude was trading near $107 a barrel, The S&P 500 fell 0.2% after slumping as much as 1.5% in early trading Thursday. Iran responded defiantly to Trump's speech, in which the American president claimed US military action had been so decisive that "one of the most powerful countries" is "really no longer a threat." A spokesman for Iran's military, Lt. Col. Ebrahim Zolfaghari, insisted Thursday that Tehran maintains hidden stockpiles of arms, munitions and production facilities. He said facilities targeted so far by U.S. strikes are "insignificant." Just before Trump began his address, explosions were heard in Dubai as air defenses worked to intercept an Iranian missile barrage....