A barrel of Brent oil is traded at $98.96 in international futures markets.
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 1.5 percent compared to the closing date at 09.30 today, reaching 98.96 dollars. At the same time, the barrel price of West Texas Intermediate (WTI) crude oil for November delivery was determined as 94.08 dollars.
The rise in prices was influenced by the weakening of expectations that a ceasefire would be achieved in the region soon, following the news flow that US President Donald Trump rejected Iran’s peace proposal.
In a telephone interview with Axios news site, Trump said that he expects US negotiators to hold new talks with Iran this week and said, “They want to make a deal, but this is not the deal I want to make.” he said.
Iranian Foreign Minister Abbas Erakçi, in his statement regarding his contacts in the USA, stated that they heard that the 7-article proposal they conveyed to the USA through mediators was rejected by Trump, but they have not yet received an official response.
Stating that they want to end the “war of aggression” initiated by the USA, Erakçi said, “They started this war eight months ago with the hope that they could win it in two or three days, but eight months have passed and we want it to end.” he said.
In addition, Iranian Parliament Speaker Mohammed Baqir Qalibaf reacted to US Treasury Secretary Scott Bessent’s statement that “the Strait of Hormuz is open” and cited the increasing global oil prices due to the strait being closed as an example.
Kalibaf stated that the increase in the global oil price of more than 35 dollars compared to the pre-war period refutes Bessent’s statements that the Strait of Hormuz is open and said, “Either the market is stupid enough to buy oil at such high prices, or the United States’ storytelling mechanism is deceiving.” he said.
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.
It is stated that technically $ 99.29 can be watched as resistance and $ 97.93 as support zone for Brent oil.
