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Commodities

Oil Prices Spike as Trump Rules Out Iran Sanctions Relief

Guavy AI Editorial Team
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Oil
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Oil prices surged on Wednesday after US President Donald Trump rejected any possibility of easing sanctions on Iran. This decision has kept geopolitical risk elevated, particularly in regards to Gulf energy flows.

The Brent crude price reached $103.73 per barrel and West Texas Intermediate (WTI) hit $89.72 at 9:31 p.m. ET Tuesday (0131 UTC Wednesday).

As a result of Trump's stance, the market is focused on whether regional supply can continue recovering while tensions around the strategic waterway remain unresolved.

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