Brent Rises to $93.29 as Trump's No-Deal Iran Remarks Revive War Premium

2 articles · Updated · CNBC · Nov 12

Brent crude climbed 0.5% to $93.29 a barrel on Thursday, while WTI slipped 0.1% to $86.05 after Donald Trump said, “We don’t need a deal with Iran,” signaling the conflict may drag on.
Those moves reversed part of a sharp pullback triggered earlier this week when Trump said fresh attacks were highly unlikely and further military action did not appear necessary.
John Kilduff of Again Capital said traders may have priced in a ceasefire too quickly, and renewed doubts about a deal could rebuild the security premium in oil.
Analysts also warned Trump’s claim that the U.S. controls the Strait of Hormuz could provoke more attacks on shipping or regional infrastructure, prolonging supply risks even as WTI remains down about 16% in November.