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Trump Refuses Iran Relief, Crude Oil Prices Surge Again
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CNBC Awaaz•30-09-2026, 07:59
Trump Refuses Iran Relief, Crude Oil Prices Surge Again
- •Crude oil prices rose again on Wednesday after US President Donald Trump refused to ease sanctions on Iran.
- •Brent crude price rose by $1.14, or 1.11 percent, to $103.73 per barrel, while US West Texas Intermediate (WTI) was up 0.38 percent at $89.72 per barrel.
- •The spread between Brent and WTI has widened to its highest in four months as traders monitor potential US plans for restrictions on diesel exports.
- •Saudi Arabia resumed loading oil into tankers from the Red Sea port of Yanbu on Tuesday, following the the restart of operations of the East-West pipeline.
- •US crude oil and gasoline inventories rose last week, while distillate fuel inventories fell, according to American Petroleum Institute data.
Key Questions Answered
Crude oil prices rose again after US President Donald Trump refused to ease sanctions on Iran. Brent crude price rose by $1.14 to $103.73 per barrel, while US West Texas Intermediate (WTI) went up 0.38 percent to $89.72 per barrel.
Donald Trump denied an Axios report claiming he was prepared to offer sanctions relief and unfreeze Iranian funds in exchange for steps in Iran's nuclear program. He wrote on Truth Social that the report was false and that he had given Iran nothing.
Saudi Arabia resumed loading oil into tankers from the Red Sea port of Yanbu following the restart of operations on the East-West pipeline.
