(Web Desk) Global oil prices moved higher in international trading, with Brent crude climbing above the $103-per-barrel mark amid ongoing concerns over global supply conditions.
Brent crude futures increased by $1.14, or 1.11%, reaching $103.73 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude also recorded gains, rising 34 cents, or 0.38%, to $89.72 per barrel.
Market analysts linked the latest rise in oil prices to comments from U.S. President Donald Trump, who reportedly rejected suggestions that sanctions on Iran could be eased. The stance has fueled concerns about future oil supplies, contributing to upward pressure on prices.
Brent crude is currently on course to post a monthly gain of nearly 14%, which would represent its strongest monthly performance since July. At the same time, WTI crude is expected to finish the month around 4% higher.
The latest increase highlights continued volatility in global energy markets, where geopolitical developments and supply concerns remain key drivers of oil price movements.
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