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Commodities

Brent Crude Tops $105 Amid US-Iran Deadlock

Guavy AI Editorial Team
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Oil
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Oil prices rose more than 1% on Monday after US President Donald Trump rejected Iran's peace proposal to end the conflict and reopen the Strait of Hormuz.

The deadlock has kept tensions in the Middle East high, heightening concerns over global energy supplies. Brent crude rose USD 1.32, or 1.27%, to USD 105.64 a barrel at 00:36 GMT.

US West Texas Intermediate (WTI) crude stood at USD 93.11 a barrel, up 70 cents, or 0.76%. Iran had previously submitted the peace proposal at the UN General Assembly in New York last week, but Trump rejected it on Saturday.

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