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Oil gains as Trump declines ceasefire
Oil prices rose by more than 2% after The Wall Street Journal reported that U.S. President Donald Trump has no intention of returning to a ceasefire agreement with Iran, complicating efforts to resume diplomatic negotiations. Brent crude increased by $1.86 to reach $89.70 per barrel, while West Texas Intermediate futures rose to $83.53, amid expectations of decreased prospects for a diplomatic breakthrough and increased pressure on Gulf energy exports. The statements confirm that Washington is not currently engaging in talks with Iran, with Iran raising its retaliatory stance against any hostile actions from the United States.
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