Oil Prices Surge Amid US-Iran Diplomatic Standoff and Diesel Export Uncertainty

Oil prices rose by approximately 2% on Thursday, September 24. The increase came as diplomatic talks between the United States and Iran showed no significant progress, while investors focused on uncertainty over a potential U.S. ban on diesel fuel exports.

Brent crude oil futures rose by $2.03, or 2%, to $105.11 per barrel at 13:20 GMT (16:20 Kyiv time), while West Texas Intermediate futures rose by $1.48, or 1.6%, to $93.64 per barrel.

European diesel futures reached record highs on Thursday amid uncertainty over a potential U.S. ban on diesel fuel exports. A White House official denied reports that the United States was preparing a 90-day ban on diesel fuel exports.