Oil Prices Rise After Trump Rejects Iran Peace Proposal
Oil prices increased by approximately 3% on Monday following President Donald Trump's rejection of an Iranian proposal aimed at resolving the conflict and reopening the Strait of Hormuz. This decision has reignited concerns over potential supply disruptions in the Middle East, a key region for global oil exports. The rise was reflected in Brent crude futures climbing to as much as $60 per barrel. The move underscores continued geopolitical tensions that have been weighing on energy markets and investor sentiment regarding regional stability.
