Oil prices held on to most of the previous session’s sharp gains in early trade on Tuesday (June 2, 2026) on uncertainty over the status of ceasefire talks between the United States and Iran and the potential reopening of the Strait of Hormuz.
Brent crude futures inched up 6 cents, or 0.06%, to $95.04 a barrel at 0001 GMT, while U.S. West Texas Intermediate fell 17 cents, or 0.18%, to $91.99 a barrel.
Both benchmarks rose more than 5% in the previous session but pared gains after U.S. President Donald Trump said he had not been told that Iran was suspending talks with Washington and that Israel had agreed to pull back any troops that were preparing to attack southern Lebanon.
– Reuters
