Oil rebounds over 1% after Trump rejects Iran peace deal

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Oil rebounds over 1% after Trump rejects Iran peace deal
PrimeXBT Editorial Team
Reviewed by PrimeXBT

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Oil prices rebounded more than 1% on Monday after President Trump rejected an Iran peace deal aimed at reopening the Strait of Hormuz. Brent crude climbed to $106.14 a barrel and US WTI crude rose to $93.55, while Trump declined to say whether he would strike Iran again before the midterms.

Oil prices rebounded more than 1% on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz.

Brent crude oil futures rose $1.82, or 1.74%, to $106.14 a barrel by 2202 GMT. US West Texas Intermediate crude added $1.14, or 1.23%, to $93.55 a barrel over the same window.

The advance follows a weekend of stalled talks and the prospect of a renewed escalation in hostilities. Trump has refused to say whether he will strike Iran again before the midterms.

Sources: Commodities & Futures News, Investinglive RSS Breaking News Feed

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