Oil rebounds more than 1% after Trump rejects Iran’s proposal to reopen the Strait of Hormuz
Reuters reports Iran’s proposal sought to resolve the conflict and reopen the strait. In a later update, it described US-Iran peace talks as stalled and put Brent crude futures at $106.14 a barrel.
TLDR
Reuters reports oil prices rebounded more than 1% on Monday after President Donald Trump rejected an Iranian peace proposal to resolve the conflict and reopen the Strait of Hormuz. Reuters later described the talks as stalled and put Brent crude futures at $106.14 a barrel. Bloomberg reports a Treasury selloff resumed as oil rallied, intensifying inflation concerns.
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