Oil climbs as Trump denies offering Iran sanctions relief and unfreezing assets

Crude oil benchmarks moved higher after Donald Trump dismissed reports that his administration offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions. Brent crude rose as high as $103.73 per barrel, on track for an approximate 14% monthly gain, while WTI traded between $89.50 and $89.72 per barrel, heading for a 4% rise in September. Trump's denial halted price declines that followed earlier relief reports. Gains were tempered by API data showing a 1.02-million-barrel build in U.S. crude inventories and recovering Middle East crude exports reaching 16.328 million barrels per day.