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Trump Rejects Iran Peace Deal, Oil Prices Rise Amid Ongoing Mideast Tensions

Guavy AI Editorial Team
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Oil prices rose on Monday 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 $1.32, or 1.27%, to $105.64 a barrel, while West Texas Intermediate (WTI) crude was at $93.11 a barrel, up 70 cents, or 0.76%. The rise in prices comes as tensions in the Middle East remain elevated.

The peace deal from Iran was announced last week at the UN General Assembly in New York, and Trump said he rejected it on Saturday. However, he also told Axios that he expected US negotiators to engage in more talks this week.

Analysts at ANZ noted that geopolitical risks remain high due to ongoing attacks by the Houthis and Iran on Saudi Arabia, which leaves regional supply flows vulnerable.

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