Europe Asia News

In response to Trump’s remarks, U.S. crude oil (WTI) increased by 0.53% on Friday to $66.78 per barrel, while global benchmark Brent crude rose 0.18% to $71.79. As a result, WTI has gained more than 5% this week and about 16% since the beginning of the year.

Speaking at the first meeting of the Peace Council, Trump said, “We may need to take another step forward, or we may not.” He added, “Maybe we will reach a deal. You will probably learn that within the next 10 days.”

Trump also stated, “Over the years, it has been proven that reaching a meaningful agreement with Iran is not easy. We must reach a serious agreement, otherwise bad things will happen.”

U.S. envoys Steve Witkoff and Jared Kushner held talks this week in Geneva regarding Iran’s nuclear program. Vice President JD Vance said that during the discussions, Iran did not address the red lines set by Trump.

Meanwhile, a significant U.S. military buildup in the Middle East is ongoing. The aircraft carrier USS Abraham Lincoln is currently in the region, and a second carrier, USS Gerald Ford, is also en route.

White House Press Secretary Karoline Leavitt said on Wednesday that there are “many reasons and arguments” for attacking Iran. She noted that some progress had been made in Geneva, but that Iran and the United States “remain far apart on certain issues.”

Iran’s Revolutionary Guards also conducted military exercises this week in the Strait of Hormuz, a key region for global oil trade. Oil investors are concerned that a war between the United States and Iran could disrupt crude oil flows through the strait.