(Bloomberg) -- Oil steadied near a six-month high, with President Donald Trump saying Iran had 15 days at most to strike a deal over its nuclear program as the US assembled a vast array of forces in the Middle East.

Brent traded near $72 a barrel after rising more than 6% in the prior two sessions, while West Texas Intermediate traded near $67. Trump said he thought 10 to 15 days was “pretty much” the “maximum” he would allow for negotiations to continue, raising concerns about disruptions to global oil supply.

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The US has carried out the biggest military buildup in the Middle East since 2003, before the invasion of Iraq. That suggests Trump may launch a far more sweeping campaign than the overnight attack the US launched against Iran’s nuclear program last June. The president is also weighing a limited early strike designed to drive Tehran to the negotiating table, the Wall Street Journal reported.

“We still think this is Trump piling on the pressure rather than about to pull the trigger,” said Robert Rennie, head of commodity research at Westpac Banking Corp.

The OPEC member pumps more than 3 million barrels a day of crude, or about 3% of global output, and mainly exports to China. However, the main risk for oil prices is if Iran decides to blockade the Strait of Hormuz, a key conduit for energy exports from the Middle East from many Persian Gulf producers.

Oil has surged about a sixth this year as traders gauge the risks to supplies from the region, which have eclipsed expectations of a building surplus that had weighed on prices at the end of 2025. A sustained campaign against Iran would see prices jump further, which would feed through to gasoline costs at the pump and threaten to anger US voters ahead of midterm elections this year.

Iran’s window to reach a diplomatic agreement over its atomic activities is at risk of closing, according to the head of the United Nations nuclear watchdog. The agency has discussed concrete proposals with Tehran to inspect the sites bombed last year.

The increased risk premium is also showing up in oil options markets. Bullish call options have been trading at large premiums to puts for much of this year as traders protect against the risk of a price spike, while the equivalent of 10 million barrels of Brent June $100 calls changed hands on Wednesday.

Adding to bullish momentum, US crude stockpiles fell by 9 million barrels, the biggest drop since early September, figures from the Energy Information Administration showed. Oil product inventories also declined across the board.

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