Oil prices rally as the U.S. maintains strict sanctions on Iran, with Brent crude set for a $10 monthly gain and WTI rising to $89.53 per barrel.
Brent crude prices climbed to $103.13 per barrel, set to end the month with a $10 gain, driven by Trump ruling out easing Iran sanctions.
WTI crude oil traded at $89.53 per barrel, set to end the month with a $3 gain, supported by the same Iran sanctions news.
Brent crude climbed to $103.13 per barrel, positioning for a $10 monthly gain as President Trump rules out easing sanctions on Iran. West Texas Intermediate also tracked higher to $89.53, reflecting sustained supply concerns from the OPEC producer.
Prices are rallying due to President Trump's decision to maintain sanctions on Iran, which has significantly reduced exports from the OPEC member.