Trump Rejects Iran Ceasefire Plan, Crude Futures Climb
Crude oil futures started the week on the upswing after US President Trump rejected Iran's proposed ceasefire roadmap. The move came as a response to Iran's proposal for a reopening of the Strait of Hormuz, which has been closed due to ongoing tensions.
Trump told aides he expects military strikes to resume after the November midterm elections, pushing back on the Iranian plan that would have led to the resumption of oil exports through the vital shipping lane.