Home GEOPOLITICS & TRADE International Policy Oil Prices Rebound After Trump Says U.S. Doesn’t Need Iran Deal

Oil Prices Rebound After Trump Says U.S. Doesn’t Need Iran Deal

Oil Prices Rebound After Trump Says U.S. Doesn’t Need Iran Deal
President Trump had empowered his vice president to negotiate with Iran, though discussions about a face-to-face meeting remained preliminary, The Wall Street Journal reported. Kevin Dietsch/Getty Images
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Original Coverage & Source Attribution: www.wsj.com

Oil prices rebounded from initial losses and closed higher Thursday after President Trump said the U.S. doesn’t need a deal with Iran, putting some risk premium back into a market that has been optimistic about chances for a negotiated solution to the conflict.

Brent crude for January delivery rose 3.3% to $95.82 a barrel, and West Texas Intermediate for December gained 2.6% to $88.74 a barrel.

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