Oil Rises as Trump Denies Iran Sanctions Relief Reports

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 to $89.72. The gains reversed a previous day's decline, when Middle East oil flows showed signs of recovering toward pre-war levels. Trump rejected an Axios report claiming he would offer sanctions relief and release frozen Iranian funds in exchange for nuclear program steps, saying "I did NOT offer them ANYTHING." Brent is heading for a monthly gain of about 14%, its largest since July, while WTI is up roughly 4%. Middle East oil exports reached 16.328 million barrels per day in September, the highest since the US-Israel-Iran war began in late February, though geopolitical uncertainty remains a key price driver.