Brent Crude Prices Rebound on Trump's Stance on Iran Talks

Brent crude prices snapped a three-session losing streak on Thursday, rising by 2.1 percent as investors scaled back expectations of a diplomatic breakthrough that could boost oil flows from the Middle East.

The price increase came after a Wall Street Journal report said US President Donald Trump is not interested in returning to terms of a memorandum of understanding reached with Iran in June.

Citing people familiar with the matter, the report said the Trump administration has repeatedly told mediators it has no interest in reviving the June agreement, complicating a flurry of diplomatic efforts this week to restart talks.

On Monday, the US announced what it called the 'toughest sanctions in history' on Iran. Treasury Secretary Scott Bessent suggested the measures would lessen the need for new major military operations.