Oil Rises as Trump Rejects Iran Peace Response
Brent crude climbed over 4% to 105.45 dollars a barrel after President Trump labeled Iran's response to a peace proposal unacceptable. The rejection has renewed supply fears as the Strait of Hormuz remains largely closed, maintaining a tight global market and keeping prices volatile.
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Brent Crude Oil rose $4.16 to $105.45 a barrel Monday morning after President Donald Trump said Iran's response to a U.S. proposal was unacceptable. Prices surged over 4% as the continued closure of the Strait of Hormuz maintains a tight global supply environment.
