Oil Prices Rise As Trump Rejects Iran Peace Deal
Oil prices climbed about two percent on Monday after US President Donald Trump rejected an Iranian peace proposal. Meanwhile, diplomatic talks continue in New York.
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Brent Crude Oil climbed 2.2% to $106.60 a barrel on Monday morning after United States President Donald Trump rejected a peace deal from Iran to reopen the Strait of Hormuz. The move pushes Brent toward its highest close since September 15 amid escalating tensions across the Middle East. Energy markets face renewed supply strains as diplomatic efforts stall following recent conflicts involving Israel.
