Oil prices traded higher on Tuesday as uncertainty lingered despite U.S. President Donald Trump's decision to postpone potential strikes on Iran's energy infrastructure for five days.
Benchmark Brent crude futures traded up more than 2 percent at $98.25 a barrel after plunging over 10 percent in the previous session. WTI crude futures were up 3.4 percent at $91.09.
Huge explosions were heard in Tehran and other cities, as Iran denied it held talks with the U.S. to end the war.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.