Trump indifferent to Iran talks, oil prices surge 4%

WASHINGTON - Oil prices surged on Monday after U.S. President Donald Trump stated he ‘does not care’ if negotiations with Iran conclude. The remarks sparked fears that Washington and Tehran would fail to reach a deal to keep the Strait of Hormuz open. Brent crude futures, the international benchmark, rose 4% to $94.98 per barrel, while U.S. West Texas Intermediate (WTI) crude futures increased over 5% to $92.16 per barrel. Iranian state media reported that the government would fully close the Strait of Hormuz as retaliation. ‘I really don’t care. I don’t care at all. I think they are taking too long. Frankly, I think they’re getting very boring,’ Trump was quoted as saying by CNBC on Tuesday, 2 June 2026. The president subsequently posted that talks with Iran would continue. U.S. crude oil prices initially surged more than 8% at the start of trading. Trump said he was not worried about the oil price hike. ‘I think oil prices will plummet very shortly, you know, very shortly,’ he added.