President Donald Trump said Americans should expect to pay higher gas prices "for a little while" as the United States continues diplomatic efforts regarding Iran, according to multiple reports.

Oil prices have risen for five consecutive days, with market analysts pointing to escalating military tensions in the Middle East and uncertainty surrounding Iran negotiations as key factors driving the increases.

The price rises come as concerns mount over potential disruptions to energy supplies from the volatile region. Iran remains a significant oil producer, and geopolitical tensions involving the country have historically impacted global energy markets.

Trump also indicated he would be examining the role of banks in relation to the Los Angeles wildfires, though he provided no specific details about what that investigation would entail.

Separately, reports suggest Trump plans to invite Russian President Vladimir Putin to a G20 summit in Miami, according to The Washington Post, though the White House has not confirmed these reports.