(Investing) – HOUSTON – Oil prices were up almost 2% a barrel on Wednesday in choppy trade, as traders evaluated Iranian President Masoud Pezeshkian’s vow never to surrender, a day after US President Donald Trump warned he could “annihilate” Iran.Brent crude futures rose $1.84, or 1.85%, to $101.09 a barrel by 11:11 a.m. EDT while West Texas Intermediate futures gained 69 cents, or 0.76%, to $91.21.At the UN General Assembly in New York, Pezeshkian said in a speech on Wednesday that Tehran would never surrender to the US but still believes in diplomacy. On Tuesday, Trump used a speech at the same forum to make his threat.Tehran was reviewing the US response to its proposal to end hostilities, though many differences remain, a senior Iranian official told Reuters.A reopening of the Strait of Hormuz and lifting of Washington’s naval blockade on Iran were discussed during indirect talks on Tuesday, the official said.Earlier on Wednesday, Iran’s security chief Mohsen Rezaei had said the Strait of Hormuz would not be reopened while Iran’s conditions are not met.Meanwhile, European low-sulphur gasoil’s premium to Brent crude futures hit a record of about $95 a barrel after Trump said he backed the idea of a diesel export ban to lower prices that have hit record highs owing to a global supply shortage.US Energy Secretary Chris Wright said later that a diesel export ban would not work. Analysts and market watchers have warned that such a move would do little to ease high energy prices and could worsen global supplies and further disrupt economies.HOUSTON, Sept 23 (Reuters) – Oil prices were up almost 2% a barrel on Wednesday in choppy trade, as traders evaluated Iranian President Masoud Pezeshkian’s vow never to surrender, a day after US President Donald Trump warned he could “annihilate” Iran.Brent crude futures rose $1.84, or 1.85%, to $101.09 a barrel by 11:11 a.m. EDT while West Texas Intermediate futures gained 69 cents, or 0.76%, to $91.21.At the UN General Assembly in New York, Pezeshkian said in a speech on Wednesday that Tehran would never surrender to the US but still believes in diplomacy. On Tuesday, Trump used a speech at the same forum to make his threat.Tehran was reviewing the US response to its proposal to end hostilities, though many differences remain, a senior Iranian official told Reuters.A reopening of the Strait of Hormuz and lifting of Washington’s naval blockade on Iran were discussed during indirect talks on Tuesday, the official said.Earlier on Wednesday, Iran’s security chief Mohsen Rezaei had said the Strait of Hormuz would not be reopened while Iran’s conditions are not met.Meanwhile, European low-sulphur gasoil’s premium to Brent crude futures hit a record of about $95 a barrel after Trump said he backed the idea of a diesel export ban to lower prices that have hit record highs owing to a global supply shortage.US Energy Secretary Chris Wright said later that a diesel export ban would not work. Analysts and market watchers have warned that such a move would do little to ease high energy prices and could worsen global supplies and further disrupt economies.A senior Iranian official told Reuters the Strait of Hormuz could reopen within seven days if the US eases military pressure and lifts its blockade on Iranian ports.On Wednesday, US Secretary of State Marco Rubio told reporters that both Russia and Ukraine had expressed interest in a limited ceasefire involving grains and energy.