Oil climbs after Trump denies he is willing to ease sanctions on Iran
USO•USO•USO•USO•Oil prices rose after Trump denied he was willing to ease sanctions on Iran. Brent gained 1.11% to $103.73 a barrel, while WTI rose 0.38% to $89.72.
Brent crude futures rose $1.14 to $103.73 a barrel, while U.S. West Texas Intermediate gained 34 cents to $89.72. Brent was on track for a roughly 14% monthly gain, and WTI for a 4% rise.
Trump denied a report that he was willing to offer Iran sanctions relief and release frozen funds in exchange for concrete steps on its nuclear program, writing, “This is untrue. I offered them NOTHING.” Qatar said it was exchanging messages between the U.S. and Iran and working toward common ground for a deal.
Middle East crude exports rebounded to 16.328 million barrels per day in September, the highest since the U.S.-Israeli war with Iran began in late February. U.S. crude inventories rose by 1.02 million barrels in the week ended September 25, while official inventory data was due later Wednesday.
