Oil prices surge after Trump denies he offered to ease Iran sanctions

WorldBusiness & Finance
30 Sep 2026 • 5:30 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Oil prices surge after Trump denies he offered to ease Iran sanctions

  • Oil prices have surged after President Donald Trump refuted reports claiming the US offered Iran sanctions relief and unfrozen funds in exchange for nuclear concessions, stating that he offered Tehran nothing.
  • Iran's Islamic Revolutionary Guard Corps released a 26-page document urging American voters to punish Donald Trump and remove his warmongering political allies from office in the upcoming November midterm elections.
  • As part of Operation Economic Outcast, the US Treasury has imposed sanctions on 10 individuals and entities based in China, Pakistan, Turkey, Saudi Arabia, and Iran over alleged procurement ties to Tehran's military.
  • Pakistan's defence minister announced the country is prepared to use all available military means to defend Saudi Arabia under a mutual defence pact, following drone strikes on a key Saudi oil pipeline linked to Iran-backed militias.
  • Qatari mediators continue to exchange proposals between US and Iranian officials to establish a seven-day trust-building plan aimed at resolving the regional conflict, while US forces finalised their scheduled withdrawal from Iraq.

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