Trump warns Iran talks are ‘last chance' to end war — oil prices rise as Tehran denies negotiations

• Trump claims talks are 'going on right now' at the request of Iran and regional partners, while Iran's foreign ministry insists there are no immediate plans for U.S. negotiations
• Oil prices rebounded with WTI crude up 1.29% to $81.38 per barrel and Brent up 1.73% to $85.23 after initially falling when Trump called off 'massive attacks' on Iran
• U.S. Central Command has redirected 44 commercial vessels as part of its Strait of Hormuz blockade, having disabled two and boarded two ships

Summary: U.S.-Iran Tensions Drive Oil Price Volatility

Key Developments:

President Trump has declared ongoing negotiations with Iran as a "last chance" to end a five-month conflict, stating talks are happening "right now" at the request of Iran, Saudi Arabia, UAE, Qatar, and others. However, Tehran denies any direct negotiations are underway or planned. Iranian President Masoud Pezeshkian maintains the country will defend its borders but does not seek conflict expansion.

Market Impact:

Oil prices reversed Monday's slump, rising on Tuesday amid diplomatic uncertainty:

• WTI crude futures: Up 1.29% to $81.38 per barrel
• Brent crude: Up 1.73% to $85.23 per barrel

The volatility followed Trump's decision to postpone "massive attacks" on Iran, which initially lifted market sentiment and caused oil prices to drop Monday.

Critical Infrastructure:

The U.S. Central Command reported redirecting 44 commercial vessels as part of its Strait of Hormuz blockade, disabling two and boarding two others. This disruption to a crucial oil transit route continues to affect global energy markets.

Diplomatic Contradictions:

Iranian foreign ministry spokesperson Esmail Baghaei reiterated that no immediate U.S. negotiations are planned, stating Iran is only engaged in talks with Oman regarding the Strait of Hormuz. Trump has accused Iranian leaders of lying about peace talks.

Investor Outlook:

Traders are increasingly skeptical about an imminent diplomatic resolution, with reduced confidence reflected in rebounding crude prices. The situation continues to unsettle energy markets, with President Trump separately criticizing Exxon and Chevron for profiting excessively from elevated oil prices during the conflict.