CRUDE WRAP: WTI (X6) SETTLES USD 2.45 HIGHER AT 92.87/BBL; BRENT (Z6) SETTLES USD 4.28 HIGHER AT USD 102.31/BBL

Crude prices moved higher as further progress between US and Iran remains to be seen, leaving markets dialling up the geopolitical risk premium. The big driver came ahead of settlement, in which the WSJ reported that the US is sending up to 10k troops, ships, and air-craft carriers to the Middle East, with Trump reportedly telling aides he will strike Iran in November. The report sent WTI and Brent to fresh highs of USD 93.68 and USD 103.05/bbl, respectively. Earlier, it was reported that a US official said the Secretary of State Rubio demanded on Monday that Iran's delegation to the UN General Assembly immediately leave the country after negotiations stalled. The main energy developments that added upward pressure was Chinese refiners reporting suspending fuel product exports beyond Hong Kong and Macau. Additionally, the US has been pressuring the EU (France and Germany) to release emergency diesel reserves or face an export ban. Now, the EU Energy Union taskforce is reportedly meeting on Friday to discuss a potential diesel stock release, an update that sparked energy prices to pull back from highs at the time. Energy updates Brazil's Petrobras (PBR) raises jet fuel prices by roughly 11.8% at main refineries from today Venezuela's oil exports down to 1.08mln BPD bpd in September; exports to US increased to 629k BPD and exports to India and Europe fell to 253k BPD and 86k BPD, respectively Crude flows through Saudi Arabia's East-West pipeline have recovered to around 5.5mln BPD, according to Argus citing a source