Iran and the United States made "some but not conclusive progress" Friday in a fifth round of negotiations in Rome over Tehran's rapidly advancing nuclear program, the talks' Omani mediator said.

Iranian Foreign Minister Abbas Araqchi said on Friday there was potential for progess in nuclear negotiations with the U.S. after mediator Oman made several proposals, adding that the talks were complicated and more discussions were needed.

In the latest round of negotiations between the Trump administration and Iran, the US is pushing for zero nuclear enrichment on Iranian soil. But a Senior Iranian official tells CNN’s Fred Pleitgen Iran is “disappointed” with nuclear talks.

Iran's top commanders boasted readiness to respond to potential Israeli strikes on Iranian nuclear facilities amid near-zero progress in the negotiations between Tehran and Washington.

Hedge funds boosted their bullish position on Brent crude by the most since early April as fading prospects for a quick US-Iran nuclear deal raised expectations that the OPEC member’s flows may be curtailed.

Depending on who you ask, a nuclear agreement between Iran and the United states is either a non-starter or almost a done deal.

Crude oil prices extended their losses following reports that OPEC+ is considering a further production increase in July, ahead of US-Iran nuclear talks later today. Oil markets remain caught between escalating geopolitical tensions and persistent concerns over a potential oversupply.