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Oil Prices Rise Amid Stalled US-Iran Ceasefire Talks

Crude futures climbed as diplomatic efforts to secure a permanent ceasefire between the United States and Iran remain deadlocked, keeping geopolitical risk premiums elevated in energy markets.

President Trump said he is making a "final determination" on a preliminary agreement to extend the current truce, but conflicting signals from both capitals have clouded prospects for a breakthrough. The administration has threatened additional military action should negotiations collapse without securing desired Iranian concessions.

Middle East tensions are rippling through global supply chains. China's factory activity weakened in May, with input costs pressured by the ongoing regional conflict alongside disruptions from a holiday break.

Despite the geopolitical uncertainty, Wall Street has maintained its bullish momentum, with investors largely powering past the stalemate in pursuit of risk assets.