Crude oil futures traded lower on Wednesday morning after US President Donald Trump said the war with Iran could end soon, although he threatened to strike again if no deal is reached.At 9.59 am on Wednesday, July Brent oil futures were at $110.48, down by 0.45 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $103.53, down by 0.46 per cent. June crude oil futures were trading at ₹10,042 on MCX against the previous close of ₹10,027, up by 0.15 per cent. July futures were trading at ₹9,614 against the previous close of ₹9,601, up by 0.14 per cent.Trump told reporters that the US may need to strike Iran again. He had been an hour away from ordering an attack before postponing it, he said.Trump’s statements came a day after he called off a proposed military strike on Iran following requests from his allies in West Asia.Stating that Iran’s leaders are ‘begging for a deal’, he said the US would attack Iran in the coming days if no agreement was reached. However, he hoped that the war with Iran would end ‘very quickly’.US Vice President JD Vance said the US and Iran have made progress in their talks. “We think that we’ve made a lot of progress. We think the Iranians want to make a deal,” he told reporters at a White House briefing.Meanwhile, Ebrahim Azizi, Head of the National Security Commission of the Iranian parliament, posted on X that Trump’s hesitation for a new ‘adventurous action’ is solely due to his fear of the decisive response from the armed forces and the unity of the Iranian people. It is clear that Trump does not attach any value to the mediation of the leaders of the Persian Gulf countries, he said.June natural gas futures were trading at ₹318.60 on MCX during the initial hour of trading on Wednesday against the previous close of ₹317.10, up by 0.47 per cent.On the National Commodities and Derivatives Exchange (NCDEX), June guarseed contracts were trading at ₹5,910 in the initial hour of trading on Wednesday against the previous close of ₹5,843, up by 1.15 per cent.June cottonseed oilcake futures were trading at ₹3,627 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹3,586, up by 1.14 per cent.Published on May 20, 2026