Trump Brushes Off Iran Talks Collapse; Oil Spikes on Hormuz Blockade Threat

President Donald Trump on June 1, 2026 dismissed the potential breakdown of U.S.-Iran peace negotiations, saying he “doesn’t care” if talks end and describing them as “very boring.” His comments followed Iranian threats to halt indirect communications and fully block the Strait of Hormuz in retaliation for Israeli military action against Hezbollah. Oil prices surged on the blockade threat. Trump told CNBC he is not concerned about oil prices, predicting a sharp drop soon. He suggested Americans would accept higher gasoline costs if they understood the goal was denying Iran nuclear weapons. Later on Truth Social, Trump contradicted his earlier remarks, stating that U.S.-Iran talks are “moving forward fast.” He also announced a ceasefire between Israel and Hezbollah after a “very productive” call with Israeli Prime Minister Benjamin Netanyahu. Trump called on NATO allies to help secure the Strait of Hormuz, arguing Europe depends more on the waterway, while adding the U.S. has ample energy supplies.