Oil Markets Stop Believing Trump’s Peace Narrative

Fresh strikes on Kuwait and Oman undermine hopes of a U.S.-Iran de-escalation, keeping oil markets on edge and traders skeptical of diplomatic progress.

Friday, June 05, 2026 This week’s strikes on Kuwait and the Friday morning attack on Oman have dented hopes for a de-escalation between US and Iran following the much-publicized Israel-Lebanon ceasefire.

Whilst Oman’s main port is reportedly up and running again, capping ICE Brent around the $95 per barrel mark, most global crude benchmarks will post weekly gains of 2-3%.

Against this…