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Commodities

Trump Rejects Iran Peace Deal, Oil Prices Surge on Geopolitical Risks

Guavy AI Editorial Team
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Oil
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Oil prices surged on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated.

Brent crude futures rose $1.32, or 1.27%, to $105.64 a barrel by ​0036 GMT while US West Texas Intermediate crude was at $93.11 a barrel, up 70 ​cents, or 0.76%.

The rejection of the peace plan comes as Iran announced its proposal last week at the UN General Assembly in New York, saying it had been transmitted to the Americans via Qatari mediators.

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