JUST IN: Trump pours cold water on any quick Iran deal.

President Trump just made it crystal clear: the US is not eager to strike a deal with Iran right now. He stated that America still has “many targets” it wants to hit before this war is over.

This is a sharp shift in tone from recent signals of backchannel talks. Instead of rushing toward peace, Trump is signaling more pressure — and potentially more military action — is coming.

Why this matters for markets:

Oil had already started breathing easier as Iranian export flows normalized and Hormuz fears eased.
This comment risks reigniting the war premium. Any escalation or renewed strikes on Iranian infrastructure could quickly push crude prices higher again, especially with Asian benchmarks (Dubai/Oman) still vulnerable.

Geopolitical uncertainty is back on the table. We’re seeing a classic “talk tough, keep options open” approach from Trump — which often keeps volatility elevated across energy, equities, and safe-haven assets like gold and the dollar.

The market is now on edge: one decisive strike or a hardened negotiating stance could spark a fresh leg up in oil volatility, while any surprise de-escalation would send it crashing back down.

Bottom line: Don’t get too comfortable with the recent oil price relief. With Trump explicitly saying the US isn’t ready for a deal yet, the Middle East situation remains highly fluid — and big moves in energy markets could be just around the corner.

What do you think — will this lead to another spike in oil, or is it mostly negotiation theater?

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