Oil prices climbed Thursday as markets saw little sign of a diplomatic breakthrough between the United States and Iran
Brent crude for November delivery was up about 3.2% near $106.35 a barrel in early trading. U.S. West Texas Intermediate for November rose 2.56% to $94.52.
Traders were reacting to stalled hopes for talks that might ease Middle East tensions. Iranian President Masoud Pezeshkian, speaking at the U.N. General Assembly, accused the United States and Israel of fueling global instability. He said the U.S. president had labeled Iran terrorists, insisted Iran had itself been a victim of terrorism, and pledged that the country would keep fighting “until our last breath.”
Separately, demand data added support. Asia is set to import about 23.96 million barrels of crude per day in September, according to Reuters citing Kpler figures. That would be the highest level since the Iran conflict began, up from 23.38 million bpd in August and the strongest since February.
Merchant vessels from Iran and other countries have remained at anchor in the Strait of Hormuz near Bandar Abbas.
We found this interview from BCTV super interesting
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