Business & Economy
Brent gains 2.7% as Trump rejects Iranian proposal to reopen Hormuz Strait
Oil prices climbed more than 1% Monday in early Asia trading after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the Middle East conflict and reopening the Strait of Hormuz.
AI Summary
Oil prices rose more than 1% in early Asian trading on Monday after President Donald Trump rejected an Iranian peace proposal that sought to end the Middle East conflict and reopen the Strait of Hormuz. U.S. November crude futures climbed 1.3% to $93.62 a barrel, while the international Brent benchmark gained 1.8% to $106.31 a barrel. The price increase was directly linked to Trump’s dismissal of the Iranian offer.
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