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Commodities

Trump Denies Iran Sanctions Relief, Oil Prices Edge Higher

Guavy AI Editorial Team
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Oil
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Oil prices rose on Wednesday after US President Donald Trump denied that he would be willing to ease sanctions on Iran. This news came as Qatar pushed for peace talks between the two countries.

Brent crude futures rose $1.14, or 1.11%, to $103.73 a barrel by 0131 GMT. US West Texas Intermediate (WTI) crude prices also increased by 34 cents, or 0.38%, to $89.72 per barrel.

The spread between Brent and WTI has widened this month, with Brent on track for its biggest monthly gain since July at around 14%. Meanwhile, WTI is set to rise by 4% after breaching $106 for the first time since May.

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