Oil prices rise again!
Brent crude oil prices rose 1.11% to $103.73 per barrel, while WTI crude oil prices increased 0.38% to $89.72 per barrel.
U.S. President Donald Trump’s denial of reports that he was considering easing sanctions on Iran, along with Qatar’s efforts to advance diplomatic talks between the U.S. and Iran, pushed oil prices higher. Brent crude rose 1.11% to $103.73 per barrel, while WTI gained 0.38% to $89.72. Brent is expected to finish September with an increase of around 14%.
The oil market is closely watching possible U.S. restrictions on diesel exports. Such a move could increase domestic fuel supplies and lead refineries to reduce crude oil processing. Qatar said it was exchanging messages between the U.S. and Iran in an effort to reach an agreement. Trump, however, said he had not offered Iran any proposal to ease sanctions or release frozen funds. Meanwhile, crude oil exports from Middle Eastern producers rose in September to 16.328 million barrels per day.