Oil Prices Climb as Trump Rules Out Easing Iran Sanctions

AI Summary

Oil prices rose after President Donald Trump said he would not ease sanctions on Iran, whose oil exports have been sharply curtailed. Brent crude was reported at $103.13 per barrel and WTI at $89.53, with both benchmarks on track for monthly gains.

Crude oil prices ticked higher today, after dipping on Tuesday, following reports that President Trump has no intention of easing sanction pressure on Iran, which has decimated exports from one of OPEC’s biggest producers. At the time of writing, Brent crude was trading at $103.13 per barrel, and West Texas Intermediate was trading at $89.53, both set to end the month with a gain. For Brent, the gain is more pronounced, at around $10 per barrel, while for WTI, the gain would be about $3 per barrel. Earlier in the week, prices dipped slightly…