Commodities

WTI Oil Prices Rise Amid Ongoing Tensions with Iran

Guavy AI Editorial Team Published September 30, 2026

Instruments

Oil

WTI oil prices rose to near $88.30 in early European trading hours on Wednesday, as President Donald Trump denied reports of easing sanctions on Iran.

The news came after a report from Axios stated that Qatar's efforts to mediate between the US and Iran had failed to yield a breakthrough, raising concerns about renewed tensions and supply disruptions.

US crude oil inventories rose by 1.019 million barrels in the week ending September 25, according to the American Petroleum Institute (API), which may cap further gains for WTI prices.

Sugandha Sachdeva, founder of SS WealthStreet, said that 'continued uncertainty over sanctions relief and negotiations is keeping a geopolitical risk premium embedded in prices.'

The Wire

Keep reading for free.

You've read 3 free articles in the last 24 hours. Create a free account for unlimited access, no card required.

Create free account Already have an account? Sign in

No spam. Unsubscribe anytime.