Trump interrupted by laughter while praising USA administration's

President Donald Trump

The bank's analysts said in a note Tuesday that "another supply catalyst beyond Iran would likely be needed for prices to meaningfully break to the upside".

Oil prices, however, have trended higher amid concerns about supply.

U.S. crude inventories rose by 1.9 million barrels in the week to September 21, according to U.S. Energy Information Administration (EIA) data.

Iranian Minister of Petroleum has welcomed OPECs decision effectively rebuffing President Donald Trump's calls for a hike in oil output, saying United States empty dream to zero Irans oil exports would not realize. "We defend many of these nations for nothing and then they take advantage of us by giving us high oil prices".

Speaking to reporters after addressing the UN General Assembly, Macron said Iran should be allowed to keep selling oil and called for dialogue as he rejected a United States push to isolate the clerical regime.

In an earlier speech at the UN, Trump reiterated calls on OPEC to pump more oil and stop raising prices.

The so-called "OPEC+" group, which includes producers such as Saudi Arabia and Russian Federation, met over the weekend but did not see the need to add new output.

Oil benchmark Brent traded little changed on Wednesday after rising to its highest in almost four years in the previous session while USA crude futures fell as United States' officials tried to assure that the market would be well-supplied before sanctions are re-imposed on producer Iran.

The sanctions are expected to have an immediate impact on exports from Opec's third largest producer.

"It would be good for the price of oil for Iran to be able to sell it", the French leader said. "We believe the combination of tight supply, healthy demand, falling global inventories - down from already under-stored levels - and anemic spare capacity helps support an oil price that could end the year above 90 dollars", he said. In fact, it has been rising since early 2017, when the Organisation of the Petroleum Exporting Countries (OPEC), started halting the output to lift crude prices, together with other suppliers including Russian Federation.



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