FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 19, 2026.

Brent Crude Oil rose 1.39% to $92.76 on Wednesday after an Iran official stated the country will keep its enriched nuclear material. The move lifted prices off two-month lows hit during the previous session. Supply risks in key shipping lanes continue to underpin the market despite broader diplomatic efforts.