Oil trims gains, ends near $95
Oil climbs after Iran suspends talks, while Trump says negotiations ongoing
Oil prices settled higher on Monday after Iranian media reported that Tehran had suspended indirect talks with Washington, although gains were capped after US President Donald Trump said the talks remained ongoing.
Iran's decision followed what it described as continued Israeli attacks on Lebanon in violation of a ceasefire agreement. The state television also reported that Tehran had decided to move toward a full closure of the Strait of Hormuz.
Trump told NBC News that he was not concerned by the reported suspension and said Iran had not informed Washington of any such decision. In a later post on Truth Social, he said negotiations were progressing rapidly.
|
Brent, WTI Futures Prices |
||||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
|
Brent (August) |
94.98 |
3.86 |
+4.24% |
|
|
WTI (July) |
92.16 |
4.80 |
+5.49% |
|
*Settlement on Monday, June 1.
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