Oil Holds Biggest Gain in a Month on US-Iran Talk Uncertainty

Bloomberg.com · last updated June 1, 2026 – 11:30 PM

Oil ticked lower after its biggest gain in about a month, as uncertainty about the state of US-Iran peace talks raised the risk that energy flows from the Persian Gulf could be curtailed for longer.

Brent for August delivery traded near $94 a barrel after adding 4.2% in the previous session, while West Texas Intermediate was around $91. Prices surged Monday on a report that Tehran was halting talks with Washington in protest against Israel’s attacks in Lebanon, before paring gains after President Donald Trump said negotiations were continuing.

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