Oil Prices Head Lower as Mediators Work on U.S.-Iran Deal
- On Wednesday, Brent futures rose 57 cents to $103.16 a barrel, while West Texas Intermediate climbed 82 cents to $90.20 as stalled US-Iran talks pressured prices higher.
- President Donald Trump denied reports from Axios and CNN claiming he offered Iran sanctions relief in exchange for "concrete" steps on its nuclear programme, halting diplomatic progress.
- Energy Information Administration data released Wednesday showed distillate stockpiles dropped 2.3 million barrels, while Goldman Sachs estimates Gulf oil exports recovered to 23.3 million barrels per day last week.
- OPEC oil-producing countries will likely maintain steady production targets when they meet on Sunday, though analysts at Japanese bank MUFG warn persistent product shortages will keep markets tight.
- Trump considers allowing sales of red-dyed diesel to provide domestic price relief before the elections, while the White House has urged the European Union to release emergency diesel inventories globally.
23 Articles
23 Articles
Ada Derana
Punch NewspapersOil prices slip below $100 as Iran talks advance
Oil prices slip below $100 as Iran talks advance
(New York = Yonhap News) Correspondent Lim Soo-jung = International oil prices on the 30th (local time) were affected by the deadlock in negotiations between the U.S. and Iran and a decrease in U.S. petroleum product inventories...
Why are oil prices rising again? US crude and Brent November futures witness spike
Oil prices are moving upwards on Wednesday. US crude climbed 2.2% to $91.33 a barrel while Brent November futures jumped 1% at $103.71. The US stock markets are also witnessing a spike. Dow Jones rose 30.02 points to 51,379.94, the S&P 500 climbed 45.83 points to 7,716.67 and the Nasdaq Composite scaled 273.34 points to 27,071.20.
Oil prices are rising on Wednesday and ending September with strong growth against the background of a lack of progress in resolving the Middle East crisis.
At 0944 GMT, Brent's November futures, which expire on Wednesday, advanced 57 cents, or 0.6 percent, to $103.16 a barrel.
Coverage Details
Bias Distribution
- 38% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
