U.S. President Donald Trump has denied reports that he offered sanctions relief to Iran in exchange for concessions from Tehran on its nuclear program, as efforts to resolve the seven-month conflict in the Middle East continue.
On Wednesday, Iran's foreign minister Abbas Araqchi presented the Iranian cabinet with a U.S. proposal following meetings with Qatari mediators in Doha earlier in the week, a government spokesperson said.
In a Truth Social post late Tuesday, Trump dismissed an Axios report that indicated he was willing to give Tehran sanctions relief and release frozen Iranian funds in return for "concrete steps" on its nuclear program.
"This is untrue. I offered them NOTHING!," Trump wrote, calling the story a "HOAX."
Brent crude, the international price benchmark, was up 1.16% at $103.78 per barrel at 5:34 a.m. E.T.. U.S. West Texas Intermediate futures were up 1.13% at $90.39 a barrel.
Qatar continues its push to broker a lasting peace settlement between Washington and Tehran.
"We're working towards establishing a common ground in order to get into a deal that would save all of us from the repercussions of the conflict," Qatari foreign ministry spokesperson Majed al-Ansari said.
