Oil price rises to $97 a barrel as ‘Iran stops exchanging messages with US’ – as it happened

The Guardian1 jun 2026Macro
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The IRGC-affiliated Tasnim news agency reported that Iran’s negotiating team is pulling out of message exchanges with the US through mediators until Israel ends operations in Lebanon and Gaza. Brent crude hit $97.58 a barrel, up from $92 at the end of last week, while Nationwide recorded a 0.6% month-on-month drop in UK average house prices in May and London-listed housebuilders Persimmon and Barratt Redrow fell 4.2% and 3.2% respectively.