Crude oil futures ended sharply higher on Wednesday as some cautiousness came after Iranian President Masoud Pezeshkian said that Iran will not surrender in the war with the US, but that he believes in diplomacy to try to end the conflict. Besides, traders waited on possible ?talks to end the Iran war and ahead of a highly anticipated summit between US President Donald Trump and Chinese President Xi Jinping in Washington. On the inventory front, the Energy Information Administration (EIA) said US crude inventories rose by 2.969 million barrels to 426.4 million barrels in the week ended September 18, versus market expectations for a 0.6 million-barrel draw.
Benchmark crude oil futures for November delivery rose by $1.64 or 1.81% to settle at $92.16 a barrel on the New York Mercantile Exchange. Brent crude for November delivery jumped by $3.83 or 3.86% to settle at $103.08 a barrel on the New York Mercantile Exchange.
