{"id":1908,"date":"2026-09-30T10:03:44","date_gmt":"2026-09-30T05:03:44","guid":{"rendered":"https:\/\/ipp-news.com\/?p=1908"},"modified":"2026-09-30T10:03:44","modified_gmt":"2026-09-30T05:03:44","slug":"oil-climbs-after-trump-denies-he-is-willing-to-ease-sanctions-on-iran","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=1908","title":{"rendered":"Oil climbs after Trump denies he is willing to ease sanctions on Iran"},"content":{"rendered":"
\n

Oil prices rose on Wednesday after US President Donald Trump denied he would be willing to ease \u200csanctions on Iran while Qatar pushed for peace talks, after falling in the previous session on a recovery in crude supply from the Middle East.<\/strong><\/p>\n

Brent crude futures rose $1.14, or 1.11%, to $103.73 a barrel. US West Texas Intermediate crude gained 34 cents, or 0.38%, \u200bto $89.72.<\/p>\n

Brent is headed for a monthly gain of around 14%, its biggest climb since July, while WTI is on track for a 4% rise after breaching $106 for the first time since May.<\/p>\n

The \u2060spread between the two benchmarks this month also expanded to its widest<\/a> in four months as traders watched potential plans by \u200bthe US to restrict diesel exports, which could create an oversupply in the domestic market and lead US refiners to \u200bprocess less crude.<\/p>\n

US President Donald Trump is considering allowing sales of red-dyed diesel, instead of an export ban, to offer some price relief to consumers as the November mid-term elections loom.<\/p>\n

\u201cFurther evidence of recovering flows through the Strait of Hormuz, hope for alternatives to a US diesel \u200bexport restriction will emerge, and no material Iranian escalation in the last 24 hours has seen prices come off \u200ba little,\u201d Saul Kavonic, head of energy research at MST Marquee, said.<\/p>\n

The situation \u201cremains volatile; oil logistics are expensive and constrained\u201d, he added.<\/p>\n

Qatar said \u200con \u2060Tuesday it hopes that shuttle diplomacy between Iran and the US can lead to a breakthrough.<\/p>\n

\u201cWe are exchanging messages between the parties, and we\u2019re working towards establishing a common ground to get into a deal that would save all of us from the repercussions of the conflict,\u201d Qatari Foreign Ministry spokesperson Majed al-Ansari told reporters.<\/p>\n

However, Trump denied an \u200bAxios report that cited US officials \u200bas saying he was \u2060willing to give Iran sanctions relief and release frozen Iranian funds in return for \u201cconcrete\u201d steps by Tehran on its nuclear programme.<\/p>\n

\u201cThis is untrue. I offered them NOTHING,\u201d Trump wrote on \u200bTruth Social.<\/p>\n

On Tuesday, Saudi Arabia resumed oil tanker <\/a>loadings from its Red Sea port of Yanbu \u200bafter restarting operations \u2060on the East-West Pipeline.<\/p>\n

Crude oil exports from Middle East producers have rebounded in September to 16.328 million barrels per day, the highest<\/a> since the US-Israeli war with Iran started in late February.<\/p>\n

US crude oil and gasoline inventories rose, while distillate stocks fell last week, \u2060market sources \u200bsaid on Tuesday, citing data from the American Petroleum Institute.<\/p>\n

Crude stocks rose \u200bby 1.02 million barrels in the week ended September 25, sources said.<\/p>\n

Official inventory data from the US Energy Information Administration is due at 10:30am. Analysts polled by Reuters expect crude and product inventories to have fallen.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices rose on Wednesday after US President Donald Trump denied he would be willing to ease \u200csanctions on Iran while Qatar pushed for peace talks, after falling in the previous session on a recovery in crude supply from the Middle East. Brent crude futures rose $1.14, or 1.11%, to $103.73 a barrel. US West Texas Intermediate crude gained 34 cents, or 0.38%, \u200bto $89.72. Brent is headed for a monthly gain of around 14%, its biggest climb since July, while WTI is on track for a 4% rise after…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-1908","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1908"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1908\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}