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Commodities

Trump Rejects Iranian Peace Plan, Oil Prices Rise

Guavy AI Editorial Team
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Oil
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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.

The Brent crude futures price increased by 1.27% to $105.64 a barrel, while the US West Texas Intermediate crude price was up 0.76% at $93.11 a barrel.

Iran had announced a peace proposal last week at the UN General Assembly in New York, saying it had been transmitted to the Americans via Qatari mediators.

However, Trump said on Saturday he rejected the plan, but told Axios in a phone interview on Sunday that he expected US negotiators to engage in more talks this week.

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