Sen. Murphy welcomes possible Iran deal, torches Trump for 'insane' war

US stock futures moved higher on Monday while oil prices and the dollar slipped as investors increasingly wagered that diplomacy could prevent a prolonged conflict involving Iran.

Nasdaq futures rose 0.89% and S&P 500 futures gained 0.6% in early trading, reflecting improving risk appetite across global markets.

At the same time, the dollar gave up some recent gains, with the euro rising 0.37% to $1.1646 and the Japanese yen strengthening to 158.85 per dollar as demand for traditional safe-haven assets eased.

Oil prices tumbled on Monday to their lowest levels in two weeks as markets increasingly bet that Washington and Tehran may be moving closer to a diplomatic breakthrough despite continuing disagreements over key issues.

Brent crude futures fell $4.71, or 4.55%, to $98.83 a barrel, while US West Texas Intermediate dropped $4.57, or 4.73%, to $92.03 a barrel.

The sharp decline reflected growing optimism that a deal could eventually ease tensions threatening energy supplies from the Middle East.

Iran’s supreme leader is operating from a highly restricted and undisclosed location with limited communication channels, creating delays in ongoing negotiations with the United States, CBS News reported on Sunday citing American officials familiar with the matter.

According to the report, Mojtaba Khamenei is being reached through what officials described as a “labyrinth of couriers,” making it difficult even for Iranian officials involved in diplomacy with the Trump administration to communicate efficiently within their own system.

A White House spokesperson declined to comment on intelligence concerning Khamenei’s whereabouts or internal Iranian communication methods, CBS said.

Despite the reported difficulties, a senior Trump administration official told the network that Khamenei has agreed to the broad contours of the current draft deal.

The United States sharply criticized countries it said downplayed concerns over Iran’s nuclear program after the 2026 review conference of the Nuclear Non-Proliferation Treaty ended without consensus on a final document.

In a statement issued after the conference concluded, the State Department said it deeply regretted the failure of NPT member states to reach agreement, arguing that divisions over Iran were central to the deadlock.

Washington specifically criticized what it described as “the inability of some NPT States Parties to take Iran’s threat to global nonproliferation seriously.”

The statement pointed to Iran’s continued disputes with the International Atomic Energy Agency and what the United States called “escalating nuclear activities for which there is no credible civilian justification.”

Iran remains deeply distrustful of the United States despite ongoing indirect diplomacy through Pakistani mediators, according to a source cited by the Revolutionary Guards-linked Tasnim news agency.

The source said the Islamic Republic has “no optimism whatsoever” toward Washington and described current message exchanges with the United States as being conducted with deep pessimism toward the American government.

According to the report, no final understanding has yet been reached and disagreements continue over several provisions under discussion.