Prices rebound as Trump signals agreement is not final and warns of possible renewed strikes.
Image: Yahoo Finance
Oil prices rose more than 1% on Wednesday after US President Donald Trump cast doubt on the finality of a ceasefire-style agreement with Iran, raising concerns over renewed geopolitical risk.
Brent crude gained 89 cents to $79.85 a barrel, while US West Texas Intermediate rose 91 cents to $76.96. Both benchmarks had earlier touched their lowest levels since early March before rebounding.
Market sentiment shifted after Trump said the memorandum of understanding with Iran was not final and warned that military action could resume if Iran failed to “behave.” His remarks revived concerns over potential supply disruptions in the region.
Analysts said the gains were partly driven by uncertainty around US policy, though broader pressure from expectations of rising global supply next year limited the upside in prices.
