Trump Doubts US-Iran Deal as Oil Prices Surge Amid Economic Pressure

Pakistani Defense Minister Khawaja Asif expressed optimism over a potential deal between the US and Iran, but oil prices continued to rise on Tuesday. Brent crude increased by 1% to $88.62 per barrel, while West Texas Intermediate rose 1.24% to $83.15.

Asif said 'things are shaping up again in favor of a peace arrangement or a deal' and that recent signals suggest they're close to an agreement. However, US President Donald Trump downplayed the possibility of a deal, stating that the US would double down on economic pressure against Iran.

Trump claimed that Iran's economy is 'in tatters,' with 300% inflation, a nearly worthless currency, and unpaid soldiers leaving their posts. He emphasized that military options are still on the table but expressed a preference for continuing to apply economic pressure through sanctions.