Trump's Last Chance Ultimatum: Iran Talks Tense as Oil Prices Soar

US President Donald Trump has warned that negotiations between Iran and world powers are the 'last chance' to end five months of conflict. He made this statement on Monday, saying talks were underway at the request of countries including Saudi Arabia, the UAE, Qatar, and others.

Tehran continues to deny any direct negotiations with the US, with Iranian President Masoud Pezeshkian stating that Iran does not seek an expansion of the conflict. He emphasized that Tehran would continue to defend its borders.

Oil prices ticked higher on Tuesday due to a lack of clarity over diplomatic efforts. The price of West Texas Intermediate futures rose 1.29% to $81.38 per barrel, while Brent crude increased by 1.73% to $85.23 a barrel.