Oil Prices Soar Amid US-Iran Tensions and Diesel Export Rumors

Oil prices rebounded on [date] as tensions between the US and Iran heightened. The global benchmark, Brent crude futures for November delivery on London's ICE Futures exchange, settled up $3.83 (3.86%) at $103.08 a barrel.

This marks the first rebound since September 16, after hitting its lowest level of $99.25 on September 8.

US President Donald Trump had pressured Iran to choose between a 'deal' and 'annihilation', while Iranian President Masoud Pezeshkian stated that Iran would never surrender but still left the door open for diplomatic talks.

The report of a potential 90-day ban on diesel exports by the US, which was later denied by the White House, also contributed to oil price volatility.