Commodities
Oil Prices Surge After Trump Denies Easing Iran Sanctions
Oil prices rose on Wednesday after US President Donald Trump denied he would be willing to ease sanctions on Iran. The move came as Qatar pushed for peace talks in the region. Brent crude futures gained 0.84% to $103.45 a barrel, while U.S. West Texas Intermediate crude rose 1.4% to $90.63.
The increase in oil prices comes after prices fell in the previous session due to a recovery in crude supply from the Middle East. Trump's denial of easing sanctions on Iran suggests that the market may have been expecting some relaxation of restrictions, leading to the price drop.