Crude futures settle at $89.31 after Trump indicates Iran remains unprepared for negotiations on its nuclear program.
Crude oil futures fell after President Trump stated Iran is not yet ready to negotiate a nuclear deal, settling at $89.31. Trump noted ongoing discussions but suggested no immediate breakthrough, citing Iran’s stance on nuclear development as a future priority.
Markets had anticipated potential progress following recent diplomatic signals, including Pakistan’s efforts to resume U.S.-Iran talks. Earlier sessions saw oil prices fluctuate amid broader geopolitical tensions, including discussions on protecting shipping in the Strait of Hormuz.
Gold rebounded slightly, while major European indices closed higher. Traders remain cautious ahead of potential U.S. tariff announcements and EU fines.