2026.06.0220:34:29UTC+00Crude Oil Rises Above $93

WTI crude prices climbed more than 1% on Tuesday afternoon, rising above $93 per barrel after a volatile trading session, as investors awaited developments in the Iran conflict. Tehran is reportedly reviewing a U.S. proposal to end the war but has not communicated with Washington for several days, despite President Trump’s assertion that negotiations are ongoing. On Monday, Trump said that talks were making progress and that a deal to extend the ceasefire agreed in April and reopen the strait could be reached within a week. Nonetheless, Israel pressed ahead with military operations in southern Lebanon on Tuesday, one day after Trump urged Prime Minister Netanyahu to avoid striking Beirut in an effort to prevent a broader regional escalation.