$106 Brent Surge Fuels Concerns Over Disrupted Oil Flows

Brent crude prices rebounded above $106 per barrel on Monday after US President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz.

This move fueled concerns that disrupted oil flows through the critical waterway could persist, keeping oil markets on edge.

Tehran said it was awaiting a definitive US response to its seven-day proposal and insisted it would not ease its conditions after Trump rejected its latest plan.

The renewed uncertainty over the Strait of Hormuz has continued amid tensions across the Middle East, with Saudi Arabia intercepting Houthi drones heading towards Riyadh and a missile targeting Khamis Mushait in the south.