Oil prices rise after Trump sends message to Iran

Oil prices rose on the world market after President Donald Trump said the United States did not need a deal with Iran.

After 7:30 pm on Thursday (November 12), the price of Brent crude in the international market increased by $1.14 per barrel, or 1.23 percent, to $93.90 per barrel.On the other hand, the price of US West Texas Intermediate (WTI) crude oil rose 70 cents, or 0.81 percent, to $87.23 per barrel.

US President Donald Trump has said the US does not need a deal with Iran, claiming that Iran's finances and infrastructure are now under US control.

"We don't need a deal with Iran," Trump said in a post on social media. "That day is long past. We now have their money, billions of dollars, and their methods."

Earlier, the prices of both types of oil fell by more than $1 per barrel in Asian markets earlier in the day. However, as geopolitical tensions in the Middle East continued, crude oil prices rose a few hours later. 

At that time, the price of Brent crude rose 45 cents, or 0.49 percent, to $93.21 per barrel. On the other hand, the price of US West Texas Intermediate (WTI) rose 27 cents, or 0.31 percent, to $86.80 per barrel. 

Source: Al Jazeera