World
Brent oil trades at $103.14 after Trump denies Iran relief
The Hindu BusinessLine··30 Sept
November Brent oil futures were at $103.14 on Wednesday morning, up 0.54 percent, after President Donald Trump denied reports of Iran sanctions relief. WTI November futures were at $89.52, up 0.16 percent. Trump called an Axios report a hoax and said he offered Iran nothing. Qatar said it is exchanging messages between the US and Iran.
Prism
What It Means For You
- MCX October crude was at Rs 8614 early Wednesday, down 0.74 percent from Rs 8678.
- Traders are pricing Trump's denial against Qatar's shuttle messaging with Tehran.
- Saudi loadings from Yanbu restarted Tuesday after East-West pipeline operations resumed.
What's Happening
- Trump posted that Axios said he offered sanctions relief and frozen funds, which he denied.
- Qatari spokesperson Majed al-Ansari said Doha seeks common ground for a deal.
- A Reuters figure cited crude exports from West Asian producers at 16.328 million barrels a day in September.
Supply moves around Hormuz
- Times of India noted the Strait of Hormuz remains constrained for a seventh month.
- Brent was described as set to gain around 14 percent in September in that report.
- Houthi damage to the East-West pipeline had earlier disrupted Yanbu loadings.
all-news
