Pakistan · World · Independent Digital Newsroom
He was expected to meet with world leaders at the UN in New York this week, feeding hopes for stability in the Middle East and perhaps even progress in ending Russia's 4-1/2-year-old war in Ukraine.The Brent crude futures November contract was at $99.94 a barrel at 1507 GMT.
The WTI October contract, which was expiring on Tuesday, stood at $95.43 a barrel.Trump's comments burst mounting hopes that a deal could come during this week's UN General Assembly meeting in New York.
Feeding the optimism, flows through the Strait of Hormuz were seen increasing in recent days."Saudi Arabia is acting, not waiting," said Phil Flynn, Senior Analyst at Price Futures Group.
"After Houthi hits on the East-West pipeline forced a shutdown of Yanbu loadings, Aramco loaded about 14 million barrels of crude onto seven VLCCs inside the Gulf.
Satellite and tracker data showed Saudi oil moving through Hormuz averaging about 2.9 million barrels a day over the last six days, up from roughly 700,000 barrels a day in August."
Oil rises on delay in US-Iran peace deal Updated 6 minutes ago Despite Trump remarks, flows through Hormuz increase.
Comments & Discussion
Join a respectful, on-topic conversation. Personal attacks, hate speech and spam may be removed.