Brent crude rebounds after Trump rejects Iran peace proposal
Brent crude jumped more than 3% on Monday after US President Donald Trump rejected a peace proposal from Iran that Tehran said was sent to Washington via Qatari mediators, pushing Brent to $108.30 a barrel and WTI to $95.93. Analysts said the rejection lifted risk premia even as some flows through the Strait of Hormuz recovered and key Middle East producers boosted exports to 12.8 million barrels per day, according to preliminary Kpler data. The story also highlighted diesel market strain after talk of a US diesel export ban and isolated oil facility strikes in the wider conflict context.
Brent crude rose to $108.30 a barrel after the rejection.
Context
Iran announced a peace proposal at the UN and said it was sent to the United States via Qatari mediators. President Trump rejected the plan but said negotiators may hold more talks this week. Shipments through the Strait of Hormuz have…
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