- September 30, 2026
- Posted by: Tresmark
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Oil prices climbed on Wednesday after US President Donald Trump rejected reports that Washington could ease sanctions on Iran, while Qatar continued efforts to push for peace talks.
Brent crude’s November futures, due to expire on Wednesday, rose 71 cents, or 0.69%, to $103.30 a barrel by 0408 GMT. The more active December contract gained 35 cents to $96.51.
US West Texas Intermediate (WTI) crude increased 43 cents, or 0.48%, to $89.81 a barrel.
Brent is on track for a roughly 14% monthly gain in September, while both Brent and WTI are trading near their highest levels since May.
Concerns over potential US restrictions on diesel exports continued to limit gains in WTI. Meanwhile, crude shipments through the Strait of Hormuz have recovered to their highest level since February, although concerns over Middle East supply remain a key driver of prices.
The market had declined in the previous session as improving crude supply from the Middle East eased some supply concerns.
