Oil up 2% as traders assess Iran’s remarks

On Tuesday, Trump used a speech at the same forum to make his threat.Tehran was reviewing the US response to its proposal to end hostilities, though many differences remain, a senior Iranian official told Reuters.

A reopening of the Strait of Hormuz and lifting of Washington's naval blockade on Iran were discussed during indirect talks on Tuesday, the official said.Meanwhile, European low-sulphur gasoil's premium to Brent crude futures hit a record of about $95 a barrel after Trump said he backed the idea of a diesel export ban to lower prices that have hit record highs owing to a global supply shortage.US Energy Secretary Chris….

Analysts and market watchers have warned that such a move would do little to ease high energy prices and could worsen global supplies and further disrupt economies

Oil up 2% as traders assess Iran's remarks Updated 53 seconds ago .