Trump States Iran Will Face Consequences for Delayed Negotiations

U.S. President Donald Trump stated on Wednesday that Iran has taken too long to negotiate a peace deal and will now face consequences. In a post on Truth Social, Trump commented on Iran's military capabilities, saying, "Iran's Military is a complete and total mess. Much of it, like their Navy and Air Force, doesn't even exist anymore - They have been completely defeated. Iran is all talk and no action." Following Trump's remarks, U.S. crude oil futures for July delivery increased nearly 2% to $89.72 per barrel, while Brent futures for August delivery rose 1.3% to $92.74 per barrel. Trump's comments followed his earlier statement that a deal could be reached in "two or three days" and that the Strait of Hormuz would reopen "immediately" after such a deal. Tensions in the Middle East escalated on Tuesday when U.S. forces conducted strikes against Iran in response to the downing of a U.S. Army Apache helicopter.