UBS raised its 2027 Brent crude price forecasts: March to $95/bbl from $90, June to $90 from $85, and September to $85 from $80.

Iranian foreign ministry spokesman Ismail Baghaei said the U.S. president’s admission that he never believed the Islamabad agreement and regarded it as a waste of time demonstrates Washington’s disregard for its commitments. Baghaei called the conduct part of a long pattern of U.S. breaches, accused European states and other defenders of whitewashing American violations to evade accountability, and said breaches of international obligations cannot be justified or selectively enforced.

UK Treasury documents show Britain plans to extend its forthcoming carbon border tax to refined products.