Oil Gains After Trump Rejects Iran Sanction Relief
Oil prices rose today after U.S. President Donald Trump denied he was willing to ease sanctions on Iran, leading to increased demand for oil and expectations of further monthly gains. Brent crude increased by 0.69% to reach $103.30 per barrel, and West Texas Intermediate rose to $89.81. Brent has recorded monthly gains of approximately 14%, the largest since July, amid concerns that increased supply may limit future price rises. Additionally, the Trump administration is considering the possibility of allowing the sale of red diesel to ease prices, while Qatar hopes for diplomatic progress with the United States and Iran regarding the nuclear issue.
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