Oil gains on little sign of progress in US-Iran talks
Brent climbed more than 2% as traders weighed stalled diplomacy, a 3 million-barrel U.S. crude build and uncertainty over a diesel export ban.
- On Thursday, Brent crude climbed above $106 a barrel as diplomatic talks between The United States and Iran at the United Nations General Assembly showed little sign of progress. November Brent futures rose 3.17% to $106.35.
- President Donald Trump disclosed Tuesday that American and Iranian representatives met for three hours, calling it a "very good meeting." However, Iranian President Masoud Pezeshkian blamed the U.S. and Israel for inflaming tensions worldwide.
- Energy Information Administration data showed distillate stockpiles fell 428,000 barrels last week, while commercial crude inventories swelled by 3 million barrels, reversing expectations of a 500,000-barrel decline.
- The White House denied a Politico report regarding a 90-day diesel export ban that caused ultra-low-sulfur futures to drop about 5% on Wednesday. Energy Secretary Chris Wright stated such a ban would not work.
- An adviser to Iran's Supreme Leader Mojtaba Khamenei warned Tehran might expand the Middle East war to the Indian Ocean if the U.S. or Israel attacks again. Secretary of State Marco Rubio noted a deal with Iran requires extensive work.
64 Articles
64 Articles
The Iranian military leadership claims that an aggression by Washington and Israel will unify defensive actions in the Straits of Ormuz and Bab el-Mandeb.
Brent's ore rose to $107.10 per barrel with US-Iranian talks stalled and navigation disorder through Hormuz, while markets observe the debate over a possible ban on United States diesel exports, despite the White House's exile.
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Netanyahu Promises UN ‘Surprises’ as Iran Warns War Could Spread to Indian Ocean
Israeli Prime Minister Benjamin Netanyahu promised “surprises” in his U.N. address Thursday as Iran warned that another U.S. or Israeli attack could expand the war toward the Indian Ocean, while American forces deploy laser weapons, Saudi Arabia intercepts Houthi missiles and Washington intensifies economic pressure on Tehran.
This is the first time that a Supreme Leader's Adviser has made a direct reference to the Indian Ocean, where Diego Garcia's strategic American-British base is located.
An advisor to the Iranian supreme leader warns that new American attacks could extend the conflict to the Indian Ocean. The stake of maritime routes and negotiations with the US.
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