Trump Rejects Return to Iran Ceasefire Deal Terms, Oil Prices Rebound

Crude oil futures rebounded on Thursday after a report that President Trump is not interested in returning to the terms of the Iran ceasefire deal. The United States Oil Fund LP ETF (USO) settled higher, snapping a three-session losing streak.

The Wall Street Journal reported that Trump's administration does not want to revisit the memorandum of understanding reached with Iran. This news came as a relief to oil traders who had been worried about a potential return to the deal terms.

Crude oil prices have been volatile in recent weeks, with fluctuations attributed to various factors including global demand and supply chain disruptions. The USO ETF has also experienced price swings, reflecting changes in crude oil futures.