A post by @FirstSquawk on X.

Oil erased its earlier losses after President Trump said the US does not need a deal with Iran. The reversal in crude prices followed the remark, which reduced expectations that a near-term agreement was necessary. Oil had been trading lower before the comment, and the shift underscores how sensitive energy markets remain to US-Iran rhetoric. Traders will watch whether the rebound holds as the market reassesses the odds of a deal and any resulting impact on supply expectations.