The US president discussed how to mitigate the impact of a possible months-long U.S. blockade of Iran's port with oil executives on Tuesday.
Trump, who has said Iran can call if it wants to talk, said the country 'couldn't get its act together' in a post on Truth Social before details of Tuesday's meeting emerged.
The talks followed days of deadlock in efforts to resolve the conflict, which has led the U.S. to try to squeeze Iran's oil exports with a naval blockade to force it to reopen the Strait of Hormuz to shipping.
Oil prices rose almost 4% on Wednesday, with the Brent contract hitting a one-month high, after an initial report in the Wall Street Journal said the U.S. may extend its blockade.
Iran has pledged to continue disrupting traffic through the strait as long as it is threatened, which may mean more Middle East oil supply disruptions from the conflict, which has killed thousands and caused global economic upheaval.
Tehran warned on Wednesday of 'unprecedented military action' against continued U.S. blockading of Iran-linked vessels.
The US president stressed repeatedly that Iran cannot have a nuclear weapon, while Tehran says its nuclear ambitions are peaceful.
Iran's economy is under pressure as its currency plummeted to a record low of 1,810,000 rials to the U.S. dollar on Wednesday, with inflation rate at 65.8%.
The conflict has led to a significant increase in oil prices, with the Brent contract hitting a one-month high, and may have long-term implications for global energy markets.
