BlockBeats report, on June 2, U.S. President Trump is attempting to get the U.S.-Iran negotiations back on track and has had a heated dispute with Israeli Prime Minister Netanyahu over Israel’s escalation of hostilities in Lebanon. Iran stated on Monday that, given the ongoing conflict in Lebanon, it would suspend negotiations with the United States. Trump subsequently posted on Truth Social that he had asked Netanyahu “not to launch a large-scale attack on Beirut, Lebanon,” and said he had spoken with representatives of Hezbollah’s leadership, who agreed to cease firing at Israel and its soldiers, and that Israel had also agreed to halt its fire.
According to ABC, Trump stated that he believes an agreement will be reached with Iran “within the next week” to extend the ceasefire and reopen the Strait of Hormuz. Trump said there was “a minor hiccup” on Monday due to Iran’s dissatisfaction with Israel’s strike in Lebanon, but he has separately contacted Hezbollah and Netanyahu, urging both sides to cease fire. Axios, citing two U.S. officials and a source familiar with the conversation, reported that Trump expressed strong disapproval to Netanyahu during their call regarding Israel’s military escalation in Lebanon and demanded that Israel halt its planned strike on Beirut. The source said Trump accused Netanyahu during the call of potentially further isolating Israel internationally.
However, Netanyahu later stated that if Hezbollah ceases its attacks, Israel will not target Beirut, but the Israel Defense Forces will continue their planned military operations in southern Lebanon. Amid news of Iran suspending negotiations, Brent crude briefly surged above $97 per barrel, then retraced some gains following Trump’s remarks, ultimately closing up about 4% near $95 per barrel.