Trump Rejects Iranian Peace Proposal, Oil Prices Rebound Amid Uncertainty
Oil prices have rebounded after US President Donald Trump rejected an Iranian peace proposal aimed at resolving the conflict in the region and reopening the Strait of Hormuz, a critical route for global energy shipments.
The rejection has added fresh uncertainty to the already tense energy market, with Brent crude and US West Texas Intermediate crude both gaining as traders weighed diplomatic developments against signs that some Middle Eastern exports were recovering.
Iran has maintained that diplomacy remains the path toward resolving the conflict, while Trump has left open the possibility of additional negotiations.