On Wednesday evening, U.S. stock futures fell and oil prices surged as tensions escalated in the Middle East, with Iran rejecting direct negotiations over a U.S.-led ceasefire plan. At the same time, President Donald Trump insisted Tehran is eager for a deal.
US Markets React To Rising Middle East Tensions
Dow futures fell 70 points, or 0.15%, to 46,641, while S&P 500 futures dropped 7.50 points, or 0.11%, to 6,633.25. Nasdaq 100 futures declined 13.75 points, or 0.06%, to 24,354.
In commodities, WTI crude futures rose 1.26% to $91.46 per barrel, while Brent crude gained 1.25% to $103.50 per barrel.
RBOB gasoline futures increased 0.57% to $3.0297 per gallon and ULSD heating oil futures climbed 0.72% to $4.035 per gallon.
Natural gas futures edged higher 0.44% to $2.965 per MMBtu.
Meanwhile, the U.S. dollar index was nearly flat at 99.630, down 0.01%.
Asian markets were mixed, with Japan’s Nikkei 225 up 0.70% at 54,123.45, while South Korea’s KOSPI fell 1.50% to 5,557.71.
Iran Rules Out Negotiations: ‘We Do Not Intend…’
Iranian Foreign Minister Abbas Araghchi told state television that the U.S. has been sending messages through various intermediaries. However, “So far, no negotiations have taken place.”
Araghchi added that Iran’s current approach is focused on “defending” itself. “We do not intend to negotiate,” he stated, Al Jazeera reported, via the video.
He also said that because these messages were delivered via friendly countries or intermediaries, this cannot be considered a dialogue or negotiations of any kind.
Trump Says Tehran Wants A Deal ‘Badly’
On the other hand, President Trump, speaking at the National Republican Congressional Committee’s fundraising dinner, said Iran is eager to reach an agreement but fears domestic and U.S. repercussions, The Hill reported.
“They want to make a deal so badly, but they’re afraid to say it because they figure they’ll be killed by their own people… They’re also afraid they’ll be killed by us,” Trump said.
Israel Cautious Amid Ceasefire Talks
Israel has expressed skepticism that Iran will accept the U.S.-led terms and wants any deal to preserve its option for pre-emptive strikes, Reuters reported, citing an unnamed source.
Iran also reportedly insists that Lebanon be included in any ceasefire arrangements.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Below the Sky via Shutterstock
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