Brent crude tops 107 dollars as Iran peace hopes fade
Brent crude rose above 107 dollars after President Trump rejected an Iranian peace proposal. The closure of the Strait of Hormuz continues to pressure markets.
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Brent Crude Oil rose to $107 per barrel as Iran rejected a U.S. ceasefire proposal, pushing talks toward deadlock. The Strait of Hormuz remains largely closed, blocking roughly a fifth of global oil and liquefied natural gas shipments. The closure threatens energy security and has already driven U.S. annual inflation to a three-year high.
