Trump Rejects Iran Peace Deal, Oil Prices Surge
Oil prices rebounded after US President Donald Trump rejected an Iranian peace deal to resolve their conflict and reopen the Strait of Hormuz.
The rejection led to a price increase in Brent crude futures, which rose by $1.82 or 1.74% to $106.14 per barrel as of 2202 GMT on Monday (Sep 28).
US West Texas Intermediate crude also saw an uptick, reaching $93.55 per barrel with a gain of $1.14 or 1.23%.