Oil Prices Rise 2% After Trump's Comments on Iran Negotiations

AI Summary

U.S. crude oil futures for July delivery increased nearly 2% to $89.72 per barrel following President Trump's comments about Iran taking too long to negotiate a peace deal. Brent crude futures for August delivery rose 1.3% to $92.74 per barrel. Trump's remarks about Iran's military capabilities highlighted geopolitical tensions, leading to a drop in U.S. stock futures. Analysts at JPMorgan suggest that up to 2 million barrels per day may be leaving Iran through tankers that have turned off their transponders. These developments could impact oil supply and market dynamics.