Oil prices climb as Trump denies Iran sanctions easing

Oil prices rose Wednesday after President Donald Trump denied reports that Washington was considering easing sanctions on Iran. Brent crude futures gained $1.14, or 1.11%, to $103.73 per barrel, while US West Texas Intermediate rose $0.34 to $89.72. Trump rejected an Axios report claiming he was ready to relax sanctions and release frozen Iranian funds in exchange for steps on Tehran's nuclear program. The gains followed a previous day's decline as Middle East oil flows showed signs of recovering toward pre-war levels. Brent is heading for a monthly gain of about 14%, its largest since July. Physical supply has largely recovered, with JPMorgan estimating crude deliveries at 98% of pre-war levels, though geopolitical risk remains elevated.