Spring Boot Application displays no error, but tomcat not initialized and application.properties is unused

I created a new project using Spring Initializr, and opened it with Intellij IDEA version 2020.3.2 ide. After maven installed all dependencies in the pom.xml file, I ran the main method in the DemoApplication class. I didn't add anything new or different than the default project created by the Spring Initializr.

Two Problems occured:

1- Console outputted only these 3 logs, and Tomcat wasn't initialized

2021-02-03 23:48:45.073 INFO 15872 --- [ main] com.example.DemoApplication: Starting DemoApplication using Java 1.8.0_281 on DESKTOP-M with PID 15872 (D:\demo\target\classes started by M in D:\demo)

2021-02-03 23:48:45.078 INFO 15872 --- [ main] com.example.DemoApplication : No active profile set,falling back to default profiles: default

2021-02-03 23:48:46.355 INFO 15872 --- [ main] com.example.DemoApplication: Started DemoApplication in 2.062 seconds (JVM running for 2.87)

Process finished with exit code 0

2- Anything I write in the application.properties file turns grey (unused)

I watched a lot of tutorials, and did exactly as they do. Their console output always has more than 3 statements and is even colored, which mine isn't

My pom.xml

<?xml version="1.0" encoding="UTF-8"?>
<project xmlns="http://maven.apache.org/POM/4.0.0" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xsi:schemaLocation="http://maven.apache.org/POM/4.0.0 https://maven.apache.org/xsd/maven-4.0.0.xsd">
    <modelVersion>4.0.0</modelVersion>
    <parent>
        <groupId>org.springframework.boot</groupId>
        <artifactId>spring-boot-starter-parent</artifactId>
        <version>2.4.2</version>
        <relativePath/> <!-- lookup parent from repository -->
    </parent>
    <groupId>com.example</groupId>
    <artifactId>demo</artifactId>
    <version>0.0.1-SNAPSHOT</version>
    <packaging>war</packaging>
    <name>demo</name>
    <description>Demo project for Spring Boot</description>
    <properties>
        <java.version>1.8</java.version>
    </properties>
    <dependencies>
        <dependency>
            <groupId>commons-logging</groupId>
            <artifactId>commons-logging</artifactId>
            <version>1.1.1</version>
        </dependency>
        <dependency>
            <groupId>org.springframework.boot</groupId>
            <artifactId>spring-boot-starter-web</artifactId>
        </dependency>

        <dependency>
            <groupId>com.oracle.database.jdbc</groupId>
            <artifactId>ojdbc8</artifactId>
            <scope>runtime</scope>
        </dependency>
        <dependency>
            <groupId>org.springframework.boot</groupId>
            <artifactId>spring-boot-starter-tomcat</artifactId>
            <scope>provided</scope>
        </dependency>
        <dependency>
            <groupId>org.springframework.boot</groupId>
            <artifactId>spring-boot-starter-test</artifactId>
            <scope>test</scope>
        </dependency>
    </dependencies>

    <build>
        <plugins>
            <plugin>
                <groupId>org.springframework.boot</groupId>
                <artifactId>spring-boot-maven-plugin</artifactId>
            </plugin>
        </plugins>
    </build>

</project>

DemoApplication.java

package com.example;

import org.springframework.boot.SpringApplication;
import org.springframework.boot.autoconfigure.SpringBootApplication;

@SpringBootApplication
public class DemoApplication {

    public static void main(String[] args) {
        SpringApplication.run(DemoApplication.class, args);
    }

}

Would appreciate it if you would help me figure out how to correctly run the project and have the server up and running.

Should I add anymore run Options?

External Libraries: