Microsoft (MSFT.O) fell 3%, pushing its market capitalization below $3 trillion.

EIA now expects OECD oil inventories to fall to their lowest level since 2003.

On June 8 President Trump told a campaign fundraising call he expects the US to secure a "complete victory" over Iran within two weeks. He said the two sides remain in talks, that Iran seeks a deal and is prepared to accept key US conditions including forgoing nuclear weapons, and that oil prices will drop sharply once victory is declared. U.S. media noted Trump has previously used similar "two-week" timetables, citing an April 7 U.S.-Iran ceasefire initially framed as lasting two weeks to allow final agreement talks.