Trump sees progress on Iran deal as Pentagon warns of renewed strikes

Trump sees progress on Iran deal as Pentagon warns of renewed strikes

Oil prices extended gains after Trump sent Iran’s draft peace deal back for revisions, casting doubt on when the Strait of Hormuz will fully reopen.

Traders weigh uncertainty after bad news on US-Iran talks

Brent crude slipped 0.6 per cent to $94.45 a barrel, retracing some of Monday's gains

Oil prices retreated around 4% from Monday’s highs as markets responded positively to US President Donald Trump’s reassuring comments that negotiations with Iran are progressing.