Oil climbs back above $105
Oil prices rose more than 1% after US President Donald Trump rejected Iran’s proposal aimed at ending the conflict and reopening the Strait of Hormuz.
Brent crude climbed to $105.64 a barrel, while WTI traded at $93.11.
Iran’s proposal was reportedly delivered to the US through Qatari mediators, while Trump said he expects new talks to take place this week. Ongoing attacks in the Middle East and risks to oil supplies continue to add upward pressure on prices.
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