Oil Prices US Iran Talks Crude Oil Market — Oil storage tanks reflect a market caught between hope and hesitation as US-Iran ceasefire talks send mixed signals to global energy traders.

Oil Prices Steady Amid Growing Uncertainty Over US-Iran Talks

Oil Steadies as Uncertainty Clouds US-Iran Ceasefire Talks

By Desk Assistant On Jun 2, 2026

Global Oil Market – (Web Desk) – Oil steadies as uncertainty over US-Iran talks continues to shake global energy markets, keeping traders on edge during early trade sessions. Crude prices held firm after a strong rally in the previous session, driven by growing concerns over ceasefire negotiations between Washington and Tehran.

US President Donald Trump confirmed that talks with Iran were still ongoing. However, Iran’s Tasnim news agency told a different story, reporting that Tehran had paused indirect negotiations with the United States. The conflicting signals left markets unsure of what comes next.

Brent crude futures edged slightly higher, gaining 6 cents to reach $95.04 a barrel. Meanwhile, US West Texas Intermediate slipped by 17 cents, settling at $91.99 a barrel in early trading hours.

Traders are closely watching the status of the Strait of Hormuz, a critical waterway for global oil supply. Any disruption or reopening of this route could significantly shift crude prices in either direction.

Until a clear outcome emerges from the US-Iran diplomatic talks, oil markets are likely to remain cautious and sensitive to every new development coming out of Washington or Tehran.