Iran has accused US President Donald Trump of delaying negotiations over a possible nuclear-related agreement, saying Washington is imposing “excessive demands”, as expectations of a breakthrough continue to shift in global markets.
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Oil prices have eased this week as reports persist that Washington and Tehran are edging towards a potential agreement after more than a month of negotiations without resolution.
President Donald Trump has not yet taken a final decision on the deal, which could extend the current ceasefire with Iran. A Situation Room meeting on Friday ended without any announcement, despite expectations that a “final determination” would be made.
Demands and disputed terms
US officials and regional counterparts have suggested a deal is close, with Secretary of State Marco Rubio recently predicting “good news” within hours, though Trump later said he would not “rush into” an agreement. Washington has outlined conditions including Iran never obtaining a nuclear weapon, reopening the Strait of Hormuz for unrestricted two-way shipping, and the removal of any mines in the waterway.
The agreement under discussion would extend a fragile ceasefire in place since early April, although both sides have accused each other of violations through continued strikes. US officials said a draft proposal would launch 60 days of further talks on Iran’s nuclear programme, but neither side has signed off.
Diplomatic tension and military warning
Iranian officials have rejected the US description of the deal. Mohsen Rezaei, a senior figure and former commander of the Islamic Revolutionary Guard Corps, said Washington was “betraying diplomacy” and acting through “excessive demands”, according to Iranian media reports.
A senior Arab mediator told NBC News that negotiators had already agreed terms of a truce days earlier in Doha, but both sides have delayed final approval, describing the situation as a “game of chicken and egg”.
Defense Secretary Pete Hegseth said Trump remained patient and sought a strong agreement preventing Iran from obtaining a nuclear weapon, adding that any deal would be a good outcome. He also said the US was prepared to resume strikes if no agreement was reached, insisting the country was capable of acting globally if required.
Some changes have reportedly been made to draft text, though it remains unfinalised, according to Iranian media. Iranian officials say no final understanding has been reached and discussions are still focused on ending the war rather than detailed nuclear issues.
Oil market reaction
Oil prices fell as hopes of a deal increased. Brent crude traded about 1.8% lower at around $92 a barrel, with prices down almost 20% in May. The war and closure of the Strait of Hormuz, through which about 20% of global oil previously flowed, has driven energy prices higher over the past three months.
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Adapted by ASEAN Now. Source 1 June 2
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