Oil prices rise as Trump denies Iran sanctions relief

Oil prices rose on Wednesday after US President Donald Trump denied he would ease sanctions on Iran, with Brent crude climbing $1.14 to $103.73 a barrel and West Texas Intermediate up 34 cents to $89.72. The gains reversed losses from the prior session, which had been driven by recovering crude supply from West Asia. Trump rejected an Axios report claiming he was willing to offer Iran sanctions relief and release frozen funds in exchange for nuclear steps, stating "I offered them NOTHING" on Truth Social. Brent is heading for a monthly gain of about 14%, its largest since July, while WTI is on track for a 4% rise. Qatar said it is working to establish common ground between Iran and the US, and Saudi Arabia resumed tanker loadings from Yanbu after restarting its East-West Pipeline.