Oil rises as Trump denies plans to ease sanctions on Iran

Oil drilling rigs

Oil prices rose on Wednesday after US President Donald Trump denied he was prepared to ease sanctions on Iran, while investors awaited US inventory data.

 

Trump denied an Axios report that he was willing to offer sanctions relief and release frozen Iranian funds in exchange for Tehran taking concrete steps toward abandoning its nuclear program.

 

Brent crude is on track to gain nearly 14% this month, its biggest monthly rise since July, while US WTI crude is heading for a 4% gain in September.

 

Moreover, American Petroleum Institute data showed US commercial crude inventories rose by 1.02 million barrels last week. The market is awaiting official inventory data from the Energy Information Administration later on Wednesday.

 

Brent crude futures for November delivery rose 0.58%, or $0.60, to $103.19 a barrel as of 8:01 am KSA time.

 

US WTI crude futures for November delivery gained 0.17%, or $0.15, to $89.53 a barrel.

 

Changes in Crude Futures

Crude

Price ($/bbl)

Change ($)

Change (%)

Brent (November delivery)

103.19

+0.60

+0.58

WTI (November delivery)

89.53

+0.15

+0.17

*As of 8:01 am KSA time.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Commodity Price

 
Brent Crude Oil
98.02
0.01 0.01%
Nymex
90.47
1.04 1.17%

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request