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Commodities

Trump Denies Sanctions Relief, Oil Prices Spike Amid Ongoing Middle East Tensions

Guavy AI Editorial Team
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Oil
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US President Donald Trump denied reports that he offered Iran sanctions relief in exchange for nuclear concessions. In a post on his Truth Social account, Trump wrote 'This is untrue. I offered them NOTHING'.

The denial came as Qatar pushed for diplomatic breakthroughs between Tehran and Washington. Qatari Foreign Ministry spokesperson Majed al-Ansari stated that Qatar is working towards establishing a common ground to de-escalate tensions.

Oil prices surged after Trump's statement, with Brent crude futures climbing 1.11% to $103.73 per barrel and US West Texas Intermediate crude rising by 0.38% to $89.72.

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