International benchmark\u00a0Brent\u00a0crude<\/a> futures for July gained 0.30% to $104.51 a barrel. U.S.\u00a0West Texas Intermediate<\/a>\u00a0futures for June rose 0.31% to $98.40 per barrel.<\/p>\n Stock Chart IconStock chart icon Brent crude prices<\/p>\n Trump told reporters that the state of the ceasefire is “unbelievably weak,” calling Iran’s counterproposal to end the conflict “garbage.”<\/p>\n “I would say the ceasefire is on massive life support, where the doctor walks in and says, ‘Sir, your loved one has approximately a 1% chance of living,'”\u00a0Trump said.<\/a><\/p>\n Since the U.S. and Israeli-led war against Iran started on Feb. 28, WTI and Brent are both up more than 40%. “Oil\u00a0prices have been volatile and can rise further if US-Iran dealmaking remains thorny,” Citi said in a note. <\/p>\n Re-escalation in the Iran war is certainly possible investment firm Dragonfly’s\u00a0Chief Intelligence Officer Henry Wilkinson told CNBC’s “Squawk Box Asia<\/a>” on Tuesday, adding that Trump may ask Chinese President Xi Jinping to press Iran to accept U.S. terms later this week during talks between China and the U.S. <\/p>\n \u2014 CNBC’s Kevin Breuninger<\/a> \u00a0contributed to this report.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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