Dan Schwartzman

That's according to data compiled by Bloomberg.

With at least five of nine performers canceling their performances on the National Mall in Washington for the country's 250th birthday, President Trump has proposed giving a major speech instead.

The artists say the event has become more political than they had originally thought.

Trump called those that canceled, quote, highly paid third-rate artists.

That's news when you want it with Bloomberg News Now.

I'm Dan Schwartzman and this is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Dan Schwartzman.

President Trump speaking at a cabinet meeting at the White House says he is not satisfied with negotiations with Iran and the almost three-month war, clouding expectations for an agreement.

The president also reiterating that nobody would control the Strait of Hormuz.

President Trump also says Iran would not get sanctions relief in exchange for giving up its stockpile of uranium.

Trump's comments coming on the heels of a report from Iranian state media claiming to have a copy of an unofficial draft memorandum of understanding of a deal between the U.S.

and Iran to end the blockade of the Strait.

The White House, though, says the report is, quote, not true.

Bloomberg's Kayleigh Lyons with more details.

That's Bloomberg's Kayleigh Lyons.

Oil fell on optimism that the U.S.

and Iran would reach a peace deal, despite President Trump saying he was not satisfied with negotiations and the almost three-month war.

West Texas Intermediate crude traded near $90 a barrel.

That's a drop of nearly 5%.