Oil prices rise as Trump denies Iran sanctions easing report

Oil prices rose Wednesday after US President Donald Trump denied reports that Washington was considering easing sanctions on Iran. Brent futures climbed $1.14, or 1.11%, to $103.73 per barrel, while US West Texas Intermediate gained 34 cents, or 0.38%, to $89.72. The gains reversed a previous day's decline as Middle East crude flows showed signs of recovering toward pre-war levels. Trump rejected an Axios report that he would offer Iran sanctions relief and release frozen funds in exchange for nuclear program steps, writing on Truth Social: "This is not true. I have offered them NOTHING." Brent is heading for a monthly gain of about 14%, its largest since July, while WTI is up roughly 4%. Middle East crude exports hit 16.328 million barrels per day in September, the highest since late February, with JPMorgan estimating shipments at 98% of pre-war levels. Goldman Sachs said the global oil market is "substantially balanced" in September, though geopolitical uncertainty continues to support prices.