The barrel price of Brent oil increased by more than 3 percent and rose above $100 after Iran announced that it had no plans to negotiate with the United States.
The forward barrel price of Brent oil, which rose to $99.76 on Friday, finished the day at $97.44. The December term barrel price of Brent oil increased by 3.5 percent compared to the closing date at 12.11 today, reaching 100.84 dollars. At the same time, the barrel price of West Texas Intermediate (WTI) crude oil for November delivery was determined as 95.65 dollars.
The upward movement in oil prices was influenced by Iran’s statement that it had no plans to negotiate with Washington, despite US President Donald Trump’s statements.
In the news of Iran’s official news agency IRNA, it was reported that Iranian Foreign Minister Abbas Erakchi, who is in the USA, will return to his country tomorrow after completing his pre-planned meetings.
The news noted that Iran does not have any negotiation plans with the United States, and that the conditions conveyed to Washington under the mediation of Qatar have not yet been responded to and that Tehran is waiting for this response.
The Iranian delegation, in the United States where it was part of the UN General Assembly, presented 7 conditions to Washington under the mediation of Qatar for the reopening of the Strait of Hormuz. However, US President Trump announced that they did not accept the conditions offered by Iran.
“They want to make a deal to open Hormuz as soon as possible, because they are being beaten so badly.” Using the statement, Trump said that he expected US negotiators to hold more meetings with Iran this week.
Erakçi, on the other hand, stated that the 7-article agreement plan they presented to the USA was “very reasonable” and said, “If they reject it without reason, it would be their fault.” made his assessment.
While the statements from the parties weakened the expectations that an agreement would be reached between the USA and Iran in the short term, they led to continued uncertainty regarding the oil flow through the Strait of Hormuz and supported the upward movement in oil prices.
On the other hand, markets focused on the meeting of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, which are in the OPEC + group, to be held on October 4.
At the meeting on September 6, the countries in question decided to keep their October production targets constant at the September level.
