To Preserve Iran Nuclear Deal, Trump Swears at Netanyahu, Oil Price Surges Over 7% Before Falling

BlockBeats News, June 2nd - U.S. President Trump is attempting to facilitate the resumption of U.S.-Iran negotiations. However, a heated argument erupted between him and Israeli Prime Minister Netanyahu due to Israel's escalation of the conflict in Lebanon. Iran announced on Monday that it would temporarily halt talks with the United States due to the ongoing conflict in Lebanon. Trump later posted on Truth Social, stating that he had asked Netanyahu "not to launch a large-scale attack on Beirut, Lebanon" and that he had held talks with a representative of Hezbollah in Lebanon, who agreed to stop firing at Israel and its soldiers. Israel also agreed to cease fire.

According to ABC, Trump said he believes he will reach an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz within the "next week." Trump stated that there was a "slight hitch" on Monday due to Iran's dissatisfaction with Israel's attack on Lebanon. However, he has separately contacted Hezbollah and Netanyahu, requesting both sides to stop firing. Axios cited two U.S. officials and a source familiar with the call who said that Trump expressed strong dissatisfaction to Netanyahu about Israel's military escalation in Lebanon and demanded that Israel halt its plans to attack Beirut. The source said that Trump accused Netanyahu of potentially further isolating Israel internationally.

However, Netanyahu later stated that if Hezbollah stops the attacks, Israel will not target Beirut. Nevertheless, the Israeli Defense Forces will continue military operations in southern Lebanon as planned. Following the news of Iran suspending negotiations, Brent crude oil briefly surged above $97 per barrel, then retraced some gains after Trump's statement, ultimately closing up about 4% near $95 per barrel.