Oil heads higher as US-Iran peace talks in stalemate
Oil prices rose after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz. Brent crude futures increased by $3.43 or 3.29% to $107.75 a barrel and US West Texas Intermediate crude rose by $2.14 or 2.32% to $94.55 a barrel. The rejection of the peace deal has kept tensions in the Middle East elevated.
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- ✓ Brent crude futures rose $3.43, or 3.29%, to $107.75 a barrel.
- ✓ US West Texas Intermediate crude was at $94.55 a barrel, up $2.14, or 2.32%.
- ✓ Oil prices climbed about 2% on Monday after US President Donald Trump rejected a peace deal from Iran.
What changed
US President Donald Trump's rejection of Iran's peace proposal has led to an increase in oil prices.
Live updates
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Oil heads higher as US-Iran peace talks in stalemate
Oil prices rose after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz. Brent crude futures increased by $3.43 or 3.29% to $107.75 a barrel and US West Texas Intermediate crude rose by $2.14 or 2.32% to $94.55 a barrel. The rejection of the peace deal has kept tensions in the Middle East elevated.
Why it matters
The US-Iran conflict has been affecting oil prices due to concerns over supply disruptions. The Strait of Hormuz is a critical waterway for oil exports. Rising tensions between the US and Iran have led to fluctuations in oil prices.
What is confirmed
- Brent crude futures rose $3.43, or 3.29%, to $107.75 a barrel.
- US West Texas Intermediate crude was at $94.55 a barrel, up $2.14, or 2.32%.
- Oil prices climbed about 2% on Monday after US President Donald Trump rejected a peace deal from Iran.
What to watch next
- Further developments in US-Iran peace talks
- US negotiators engaging in more talks with Iran this week
- Impact of ongoing supply disruptions on oil prices
confidence 85%Sources used for this update (15)
- CNBC — Oil falls amid optimism over potential diplomatic solution to the Iran conflict
- Barchart.com — Crude Prices Fall Sharply in Hopes of a Deal to Reopen Hormuz
- Reuters — Oil rebounds after Trump rejects Iran peace deal
- Bloomberg.com — Oil Up, Stock Futures Slip as Iran Offer Rejected: Markets Wrap
- Seeking Alpha — Oil climbs, stock futures slip as Trump rejects Iran’s Hormuz proposal (CO1:COM:Commodity)
- economictimes.indiatimes.com — Oil heads higher as US-Iran peace talks in stalemate
- www.marketscreener.com — Oil heads higher as US-Iran peace talks in stalemate
- www.aol.com — Oil prices settle slightly higher on supply worries as Trump ...
- www.arabnews.com — Arab News | Oil heads higher as US-Iran peace talks in stalemate
- www.businesstimes.com.sg — Oil heads higher as US-Iran peace talks in stalemate - The Business Times
- tribune.com.pk — Oil heads higher as US-Iran peace talks in stalemate - The Express Tribune
- arynews.tv — Oil heads higher as US-Iran peace talks in stalemate - ARY News
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