Brent Extends Gains as Geopolitical Risks Persist
Brent crude rose above $103 a barrel on Wednesday after five consecutive sessions of losses, as uncertainty persisted over progress in US-Iran talks. Iran’s President Masoud Pezeshkian said at the UN General Assembly that Tehran remained open to diplomacy but would not negotiate under pressure, while Iran’s military warned it was ready to launch “more crushing” strikes in response to Trump's threats to annihilate Iran earlier this week in his UN adress. Trump’s threats were followed by what he described as productive talks with Iranian envoys, while Tehran has indicated it could reopen the strait if Washington eases military pressure and lifts restrictions on Iranian ports. Saudi Arabia’s partial restoration of its East-West pipeline is helping offset some supply concerns. Also, Ukrainian President Zelenskyy called on US President Trump to organize a trilateral meeting with Russian President Putin. Zelenskyy also said that the he and Trump discussed an energy ceasefire.
Brent crude rose above $103 a barrel on Wednesday after five consecutive sessions of losses, as uncertainty persisted over progress in US-Iran talks. Iran’s President Masoud Pezeshkian said at the UN General Assembly that Tehran remained open to diplomacy but would not negotiate under pressure, while Iran’s military warned it was ready to launch “more crushing” strikes in response to Trump's threats to annihilate Iran earlier this week in his UN adress.
Trump’s threats were followed by what he described as productive talks with Iranian envoys, while Tehran has indicated it could reopen the strait if Washington eases military pressure and lifts restrictions on Iranian ports. Saudi Arabia’s partial restoration of its East-West pipeline is helping offset some supply concerns. Also, Ukrainian President Zelenskyy called on US President Trump to organize a trilateral meeting with Russian President Putin. Zelenskyy also said that the he and Trump discussed an energy ceasefire.