On Tuesday, U.S. stock futures were largely unchanged and oil prices remained elevated after President Donald Trump warned that he could "annihilate" Iran if Tehran fails to reach a deal to end the conflict.

US Stock Futures, Oil Prices and Asian Markets Edge Higher

Dow futures fell 7 points, or 0.01%, to 52,272.00, while S&P 500 futures declined 1 point, or 0.01%, to 7,830.75. Nasdaq 100 futures advanced 9.75 points, or 0.03%, to 31,038.25 as of around 8:44 p.m. EDT.

In commodities, WTI crude oil was unchanged at $94.59 per barrel, while Brent crude rose 0.15% to $99.40 per barrel. Natural gas futures gained 2.02% to $3.025 per MMBtu.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 100.595, up 0.05% at the time of writing.

Asian markets traded higher, with South Korea's KOSPI rising 0.98% to 7,086.40, while Japan's Nikkei 225 gained 1.38% to 65,018.95.

Trump Warns of Further Iran Escalation

Trump used his address to the UN General Assembly to defend the U.S. campaign against Iran, saying Washington had prevented Tehran from obtaining a nuclear weapon, Reuters reported.

The president said he faced a choice between reaching an agreement that would allow Iran to rebuild or taking more aggressive military action.

"Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before?" Trump said. "Or do I annihilate the Islamic Republic and do it quickly?"

Trump also said diplomacy remained possible, predicting his administration could reach a peace agreement with Iran after the Nov. 3 U.S. midterm elections.

Trump Says Envoys Met Iran Mediators

Trump also said U.S. special envoys Steve Witkoff and Jared Kushner held a productive meeting with mediators involved in efforts to negotiate with Iran.

In a post on X, Witkoff said, "We engaged in lengthy talks with the Iranian delegation through the mediators … The mediators will continue their work."

Since beginning his second term last year, Trump has pursued an assertive foreign policy. This includes military action against Iran alongside Israel, a U.S. operation in Venezuela and threats to take control of Greenland.