Following US President Donald Trump's cancellation of any meetings with Iranian officials and his declaration that aid for demonstrators is on the way, crude oil prices increased by almost 3% on Tuesday.

By 11:42 a.m. ET, U.S. crude had increased $1.96, or 3.29 percent, to $61.46 per barrel, while Brent crude had increased $1.99, or 3.12 percent, to $65.86 per barrel.

Hundreds of people have reportedly died as a result of Iran's security forces' brutal suppression of large-scale protests.

Restrictions on the internet have made it challenging to independently confirm local happenings.

Trump has frequently threatened to step in if Iran's regime murders demonstrators.

"Iranian Patriots, continue to demonstrate and seize control of your institutions! In a Truth Social post on Tuesday, Trump wrote, "Save the names of the killers and abusers."


The president declared, "They will pay a big price." "Until the senseless killing of protesters stops, I have cancelled all meetings with Iranian officials. HELP IS ON ITS WAY. MIGA!!!"

Global markets are keeping a careful eye on Iran, a crucial OPEC member and significant producer of crude oil, as traders evaluate the possibility of possible interruptions to oil supplies.