Oil prices rise above $103 a barrel
Oil prices climbed on Wednesday after U.S. President Donald Trump denied he would be willing to ease sanctions on Iran, reversing some of the losses recorded in the previous session amid signs of recovering crude supplies from the Middle East, Qazinform News Agency cites Al Jazeera.
Brent crude futures gained $1.14, or 1.11%, to reach $103.73 a barrel as of 01:30 GMT.
U.S. West Texas Intermediate (WTI) crude rose 34 cents, or 0.38%, to $89.72 a barrel.
Brent crude is on track for a monthly gain of around 14%, its strongest increase since July. Meanwhile, WTI is set to post a 4% monthly rise after earlier climbing above $106 a barrel for the first time since May.
The gains reflect ongoing market concerns over potential supply disruptions and geopolitical tensions, which continue to influence global oil prices.
Oil prices climbed more than 1% in early Asian trading on Monday, as concerns over potential disruptions to energy supplies from the Middle East continued to support the market.
