US President Trump said they have been hitting Iran pretty hard and Iran negotiations are going well, while he suggested a deal could happen over the weekend. Though noted that it could go another two or three weeks, Brent Aug’26 -0.7%.

A US-Iran diplomatic breakthrough that oil markets assumed was within reach last week now looks less likely amid escalating rhetoric and military actions.

June 2 : Oil prices trended lower on Tuesday following the previous session's sharp gains as the market remained cautious about progress in U.S.-Iran peace talks. U.S. President…