Oil prices climb to $104 as Trump rejects Iran sanctions relief
Oil prices rose on Wednesday, September 30, with Brent crude futures climbing 1.11% to $103.73 a barrel, after US President Donald Trump denied reports he was prepared to ease sanctions on Iran. Trump rejected an Axios report claiming he would offer Iran sanctions relief and release frozen funds in exchange for nuclear program concessions, stating on Truth Social that he offered Tehran nothing. Prices had fallen the previous session as Middle East crude supply showed signs of recovery. Brent is on track for its biggest monthly gain since July at around 14%, while analysts at JPMorgan and Goldman Sachs cite uncertainty over the conflict's endgame and potential for prices to reach $120 if shipping attacks intensify.