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Oil Prices Jump Back Above 102 as Trump Casts Doubt on Iran Deal
Business
Published on 7 May 2026
A single Trump remark sent crude snapping higher
Oil prices rebounded on Thursday after a sharp selloff, with Brent crude rising above $102 a barrel. Investors focused on uncertainty around Middle East peace talks after President Trump questioned the timing and likelihood of face-to-face negotiations with Tehran. Supply tightness for summer demand and lower U.S. inventories are adding upward pressure.
- Brent crude futures climbed above $102 after earlier losses
- Trump raised doubts about prospects for Iran face-to-face talks
- Tight summer supplies are supporting higher prices
- U.S. inventory declines helped cushion the rebound
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This summarization was done by Beige for a story published on 
Republic