Oil rises as Trump faces crucial 60-day deadline for Iran war

United States Marine Corps soldiers seen staged outside of the Federal Building in downtown Los Angeles during the 'No War On Iran' protest after conflicts arise with Iran and Israel on June 19, 2025 in Los Angeles, United States. Anadolu | Anadolu | Oil prices climbed Friday, a day after a volatile session that saw the Brent crude contract for June hit a four-year high before retreating. The June contract, which expired on Thursday, climbed to $126.41 a barrel before settling at $114.01. On Friday, the July Brent futures contract rose 1.11% to $111.63 as of 10:15 p.m. ET, while U.S. West Texas Intermediate futures for June gained 0.45% to $105.54. The moves come as U.S. President Donald Trump faces a 60-day deadline under the War Powers Resolution related to military action in the Iran war. Under the 1973 law , a president must withdraw troops within 60 days of notifying Congress of their deployment, unless lawmakers authorize the military action. Congress has not done so. A senior White House official told Reuters on Friday that a ceasefire reached three weeks ago had "terminated" hostilities between the two sides in the face of the approaching deadline. "For War Powers Resolution purposes, the hostilities that began on Saturday, February ​28, have terminated," the official said, according to Reuters. Stock Chart Icon Stock chart icon The U.S. and Israel launched strikes on Iran on Feb. …