Oil Prices Rise After Iran Disavows Unauthorized U.S. Contact
WTI crude reached $92 a barrel, while Brent crude topped $98 on Sept. 23 as Iran challenged the authorization for its foreign minister’s interaction with a U.S. negotiator.
Oil prices climbed sharply Sept. 23 after Iran disavowed authorization for its foreign minister’s direct interaction with a U.S. negotiator, adding geopolitical uncertainty to markets watched by crypto investors.
West Texas Intermediate (WTI) crude reached $92 a barrel, up 2.82% on the day. Brent crude rose 2.76% to break above $98 a barrel.
Iran said the interaction involving Foreign Minister Araghchi and one of President Donald Trump’s negotiating representatives had not been coordinated with or approved by the country’s relevant decision-making bodies, including the Supreme National Security Council.
Council Secretary Rezaei had previously said the original plan was to pass seven Iranian conditions to intermediaries. That position indicated that direct interaction with the U.S. representative went beyond the stated authorization.
The dispute puts the focus on whether future contacts will proceed directly or return to an intermediary-based channel. The materials do not provide a scheduled date for the next step.
