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Oil Holds Above $100 as Trump Signals Potential Iran Military Action

Crude oil prices remained elevated Tuesday despite modest losses as traders assessed conflicting signals from President Donald Trump regarding military operations against Iran. Brent crude and West Texas Intermediate futures declined slightly but stayed well above the $100-per-barrel threshold. Trump told reporters Iran has a limited window—roughly two to three days through the weekend or early next week—to reach a negotiated settlement. He previously canceled a Tuesday strike at the request of Gulf Arab leaders from Qatar, Saudi Arabia and the United Arab Emirates. Supply disruptions continue constraining flows through the Strait of Hormuz, with shipping activity well below normal levels. Oil prices have climbed more than 50% since the Iran conflict began in February. Analysts warn that extended closure of key shipping routes could add $10 to year-end oil prices for each month disrupted.