[International Oil Prices] Rebound After Four Days Amid Lack of U.S.-Iran Talks

[Financial News]  

International oil prices rebounded on the 27th local time after four days of declines.
Concerns over supply disruptions resurfaced after it became clear that there were no talks between the United States and Iran to end the war.
Brent Crude Oil for October delivery, the global benchmark, rose $1.86, or 2.12%, from the previous session to close at $89.70 per barrel.
West Texas Intermediate crude oil (WTI), the U.S. benchmark, also gained $1.30, or 1.58%, to settle at $83.53 per barrel.
Oil prices were lifted as hopes faded for the reopening of the Strait of Hormuz through diplomatic negotiations, which had driven prices lower for three straight days from the 24th through the previous day.
After President Donald Trump said in an interview with Al Jazeera the previous day that there were no ongoing or planned talks with Iran, White House press secretary Karoline Leavitt reaffirmed on the same day that there was no dialogue between the United States and Iran.
Iran is not backing away from its hard-line stance. Mohsen Rezaee, secretary-general of Iran's Supreme National Security Council, told Mohammed bin Abdulrahman Al Thani, Qatar's prime minister and foreign minister, who was visiting Iran on the day, "We do not trust the United States, and they have betrayed diplomacy and negotiations many times."

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