Oil rises as Trump denies Iran sanctions easing reports

Oil prices rose Wednesday after US President Donald Trump denied reports that Washington was considering easing sanctions against Iran. Brent futures gained $1.14, or 1.11%, to $103.73 per barrel, while US West Texas Intermediate rose 34 cents to $89.72. The gains followed a previous day's decline as Middle East crude supply showed signs of recovering toward pre-war levels. Trump rejected an Axios report claiming he was open to offering Iran sanctions relief and releasing frozen assets in exchange for nuclear program steps, writing on Truth Social: "This is not true. I have offered them NOTHING." Brent is on track for a monthly gain of about 14%, its largest since July, while WTI is poised for roughly 4% gains. Physical oil flows from the Middle East have significantly recovered, with Saudi Arabia resuming tanker loadings at Yanbu port and September exports reaching their highest since late February, though geopolitical uncertainty continues to support prices.