Oil Prices Rise 2 Percent on Iran Deal Rejection
Oil prices rose after reports that Donald Trump is not interested in returning to terms of an earlier Iran ceasefire deal. The move snapped a three-session losing streak for crude benchmarks as investors scaled back hopes for a diplomatic breakthrough.
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Brent Crude Oil prices settled up 2.1% on Thursday afternoon, snapping a three-session losing streak after United States President Donald Trump rejected a return to the terms of a June memorandum of understanding with Iran . The rebound halted a recent market slide driven by hopes of a diplomatic resolution. Traders pared expectations of an imminent revival in Middle Eastern energy flows.
