Brent and WTI rise as Trump rejects easing Iran sanctions
In short
Brent crude rose to $103.73 a barrel and US WTI rose to $89.50 after Trump said he would not ease sanctions on Iran. Brent was up $1.14, or 1.11%, and WTI was up 15 cents, or 0.30%.
Brent is heading for about a 14% monthly gain, its biggest since July, and WTI is set for a 4% monthly rise. The report does not say whether prices will keep climbing.
What the reporting says
Brent crude futures rose to $103.73 a barrel and WTI gained to $89.50 after Trump rejected easing sanctions on Iran, according to the publisher summary. Brent was up $1.14, or 1.11%, and was on track for about a 14% monthly gain, while WTI was set for a 4% monthly increase after earlier crossing $106 a barrel. The report does not say how long prices will stay near these levels.
Why it matters
Brent crude futures rose to $103.73 a barrel and WTI to $89.50 after Trump rejected easing sanctions on Iran. The publisher summary says Brent was headed for about a 14% monthly gain and WTI for about 4%, after WTI earlier crossed $106 a barrel for the first time since May. The report does not provide a deeper explanation for the move beyond sanctions and price momentum.