To Preserve Iran Nuclear Deal, Trump Swears at Netanyahu, Oil Price Surges Over 7% Before Falling
BlockBeats News, June 2nd - U.S. President Trump is attempting to facilitate the resumption of U.S.-Iran negotiations. However, a heated argument erupted between him and Israeli Prime Minister Netanyahu due to Israel's escalation of the conflict in Lebanon. Iran announced on Monday that it would temporarily halt talks with the United States due to the ongoing conflict in Lebanon. Trump later posted on Truth Social, stating that he had asked Netanyahu "not to launch a large-scale attack on Beirut, Lebanon" and that he had held talks with a representative of Hezbollah in Lebanon, who agreed to stop firing at Israel and its soldiers. Israel also agreed to cease fire.
According to ABC, Trump said he believes he will reach an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz within the "next week." Trump stated that there was a "slight hitch" on Monday due to Iran's dissatisfaction with Israel's attack on Lebanon. However, he has separately contacted Hezbollah and Netanyahu, requesting both sides to stop firing. Axios cited two U.S. officials and a source familiar with the call who said that Trump expressed strong dissatisfaction to Netanyahu about Israel's military escalation in Lebanon and demanded that Israel halt its plans to attack Beirut. The source said that Trump accused Netanyahu of potentially further isolating Israel internationally.
However, Netanyahu later stated that if Hezbollah stops the attacks, Israel will not target Beirut. Nevertheless, the Israeli Defense Forces will continue military operations in southern Lebanon as planned. Following the news of Iran suspending negotiations, Brent crude oil briefly surged above $97 per barrel, then retraced some gains after Trump's statement, ultimately closing up about 4% near $95 per barrel.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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On October 8, Revolution Medicines (RVMD.O) shares fell 8.1% in afternoon trading to $185.91. RBC Capital Markets stated that the share price decline appeared to be driven by the latest U.S. Food and Drug Administration (FDA) review documents regarding the company's pancreatic cancer drug Rasonque, particularly the disclosure of objective response rate data for specific RAS mutation subgroups. RBC pointed out that overall survival, rather than objective response rate, is a more meaningful indicator of efficacy, and that the sell-off overlooked Rasonque's broad activity across a variety of RAS mutation subgroups. RBC stated: "While we acknowledge that today's share price decline takes place against the backdrop of overall weakness in the biotech sector, we still believe that the market's reaction to the FDA review documents is an overreaction, given that the drug was approved on the basis of highly clinically meaningful efficacy and has received positive feedback from physicians." Including intraday fluctuations, the stock has more than doubled year-to-date. (Note: For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Automated translations may be inaccurate or lack necessary context; Reuters does not guarantee the accuracy of these automated translations and provides them only for reader convenience. Reuters does not accept liability for any damage or loss arising from the use of automated translation features.)
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