Rise in oil prices: Brent and WTI heading towards three-month peak
As oil markets stir following statements by US President Trump, Brent crude is preparing to close September with a 14 percent increase.
Oil prices continued their upward movement after Donald Trump denied reports regarding the easing of sanctions on Iran, reaching their strongest monthly performance since July.
Latest Status on Brent and WTI Prices
Brent futures recorded an increase of 1.11 percent, rising to $103.73 per barrel. West Texas Intermediate (WTI) crude gained 0.38 percent, reaching the $89.72 level.
Record Increase in September
Brent crude is expected to complete September with an increase of approximately 14 percent. This stands out as the strongest monthly increase recorded since July, while WTI is also projected to close the month with a rise of around 4 percent.
US and Iran Developments in Markets
US President Donald Trump's denial of allegations that sanctions against Iran would be eased shifted the focus of the markets. The course of supply flows in the Middle East and developments in the Strait of Hormuz are being closely monitored.
Support for Diplomatic Traffic from Qatar
Qatar gave the message that diplomatic contacts conducted between the US and Iran could make progress. Qatari Foreign Ministry Spokesperson Majed al-Ansari stated that the exchange of messages between the parties continues.