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LIVE: Oil retreats in Asian trading even as Trump dampens US–Iran deal prospects

LIVE: Oil retreats in Asian trading even as Trump dampens US–Iran deal prospects

US President Donald Trump dances on stage after delivering remarks during a campaign and economic policy event in the Eugene Levy Fieldhouse at SUNY Rockland Community College on May 22, 2026 in Suffern, New York. (AFP)

This live blog follows the latest developments across the Middle East crisis, including regional diplomacy, maritime security, ceasefire negotiations, and economic fallout.


Catch up: Yesterday’s top developments

  • Iran’s president stated that the country has no intention of developing nuclear weapons
  • President Donald Trump said the US won't 'rush' to finalize a deal with Iran
  • Oil markets in Asia tumbled over 5% amid optimism surrounding potential US-Iran deal
  • Saudi Arabia praised Pakistan’s mediation role in efforts to ease regional tensions
  •  A pre-dawn Israeli airstrike in central Gaza killed three family members, including an infant


US futures rise as traders weigh ME War developments
Published: May 25, 2026 | 1:38 GMT | by Web Desk


The Guardian reported Monday that US stock futures moved higher in early trading as investors reacted to expectations surrounding a possible agreement to end the Iran war.


The gains came as market participants positioned for increased risk appetite at the start of the week.


Nasdaq futures rose 0.89%, while S&P 500 futures gained 0.6%.


However, uncertainty over the reopening of the Strait of Hormuz limited market enthusiasm.




Oil retreats in Asian trading even as Trump dampens US–Iran deal prospects
Published: May 25, 2026 | 5:44 GMT | by Web Desk/AFP


Oil prices fell more than 5% in early Asian trading on Monday, with markets reacting to expectations of a possible US–Iran agreement even after US President Donald Trump signaled caution over its timing.


Brent crude dropped 5.1% to $98.22 per barrel around 2300 GMT on Sunday, while West Texas Intermediate fell 5.2% to $91.57.


Trump said in a social media post on Sunday that negotiators should not rush into a deal, saying time was on their side. He added that restrictions would remain in place until an agreement is reached and signed.


The United States and Iran have observed a ceasefire since April 8 while mediators continue efforts toward a negotiated settlement.