HOUSTON: Oil prices settled up just shy of four per cent a barrel on Wednesday in choppy trade, as traders evaluated Iranian President Masoud Pezeshkian’s vow never to surrender, a day after US President Trump warned he could ‘annihilate’ Iran.
Brent crude futures settled up $3.83, or 3.86pc, to $103.08 a barrel, while West Texas Intermediate futures gained $1.64, or 1.81pc, to $92.16.
Ultra-low-sulfur diesel futures were down around 5pc after Politico reported the Trump administration was preparing plans for a 90-day diesel ban, a story the White House then denied. The US energy secretary had said earlier that a diesel export ban would not work.-Reuters