Trump posted this on Truth Social:

I have just finished meeting with Prime Minister Netanyahu, of Israel,
and various of his Representatives. It was a very good meeting, the
tremendous relationship between our two Countries continues. There was
nothing definitive reached other than I insisted that negotiations with
Iran continue to see whether or not a Deal can be consummated. If it
can, I let the Prime Minister know that will be a preference. If it
cannot, we will just have to see what the outcome will be. Last time
Iran decided that they were better off not making a Deal, and they were
hit with Midnight Hammer — That did not work well for them. Hopefully
this time they will be more reasonable and responsible. Additionally, we
discussed the tremendous progress being made in Gaza, and the Region in
general. There is truly PEACE in the Middle East. Thank you for your
attention to this matter!

WTI crude oil was up $1.08 to $65.04 ahead of the meeting but is under pressure after this post.

I’d estimate a $3-5 geopolitical premium is in the oil market at the moment and it’s been bouncing around based on the latest sentiment surrounding Iran. There is currently no timeline for meetings but I imagine it won’t be long before they’re rescheduled.

Meanwhile, there is a massive military build up of US assets in the Middle East.