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Commodities

Trump Rejects Iran's Proposal, Oil Prices Surge Past $100

Guavy AI Editorial Team
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Oil
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International oil prices surged again after a brief pullback, with Brent crude reclaiming the $100-per-barrel threshold in after-hours trading. The immediate catalyst was US President Trump's public statement rejecting Iran's proposal to reopen the Strait of Hormuz.

Iranian Foreign Minister Abbas Araghchi had told media that the strait could reopen within seven days and negotiations could begin if certain conditions were met, but Trump stated plainly: 'I rejected their offer.'

This stance stood in stark contrast to the conciliatory signals markets picked up just a day earlier. Trump's latest remarks quickly extinguished the market's nascent optimism.

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