Late Tuesday, markets wavered and oil prices climbed. Earlier in the day, President Donald Trump signaled optimism over a potential Iran deal.

Markets Edge Lower, Oil Prices Climb

Dow futures fell 12.00 points, or 0.02%, to 50,022.00, while S&P 500 futures declined 10.00 points, or 0.14%, to 7,379.50 and Nasdaq 100 futures slipped 72.75 points, or 0.25%, to 28,644.00 as of 8:32 p.m. EDT.

In commodities, WTI crude oil rose 1.18% to $96.20 per barrel, while Brent crude gained 0.88% to $102.16 per barrel as of 1:33 a.m. BST.

Natural gas futures dropped 0.33% to $2.721 per MMBtu.

Meanwhile, the U.S. dollar index stood at 98.049, up 0.04% as of 06:14 GMT+5:30.

In Asia, Japan's Nikkei 225 surged 3.99% to 61,885.48, while South Korea's KOSPI slipped 0.55% to 7,343.79.

Trump Signals Optimism: 'They Want To Make A Deal'

Speaking to reporters at the White House, Trump said, "They want to make a deal. We've had very good talks over the last 24 hours and it's very possible that we'll make a deal," Reuters reported.

Earlier in the day, he had warned of potential military action, saying the possibility of an agreement was a "big assumption" and suggesting bombing operations could resume if talks fail.

Iran Weighs US Peace Proposal

On Wednesday, Iran also said that it is evaluating a U.S. peace proposal that could officially end the war.

However, major sticking points — including Tehran's nuclear program and the reopening of the Strait of Hormuz — remain unresolved.

Negotiators were close to a one-page memorandum that could formally end the conflict and open discussions on restoring Strait of Hormuz shipping, easing U.S. sanctions and limiting Iran's nuclear program, according to a Pakistani source and another person familiar with the talks.

It remains unclear how the proposal differs from Iran's 14-point plan unveiled last week, and Tehran has yet to formally respond.

Iranian lawmaker Ebrahim Rezaei dismissed the proposal as "more of an American wish-list than a reality."

Parliament Speaker Mohammad Baqer Qalibaf mocked reports of a breakthrough, saying on social media that "Operation Trust Me Bro failed."

This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.

Image via Shutterstock/ Joshua Sukoff