Key facts
- Oil prices rebounded more than 1% on Monday.
- US President Donald Trump rejected a peace deal from Iran.
Oil prices rose more than 1% on Monday after US President Donald Trump rejected a peace deal from Iran aimed at resolving their conflict and reopening the Strait of Hormuz. Brent crude futures increased by 1.74% to $106.14 a barrel, while West Texas Intermediate crude was up 1.23% at $93.55 a barrel.
The rejection of a peace deal between the US and Iran, particularly one that could impact the Strait of Hormuz, directly influences oil supply routes and prices, affecting global energy markets.
SINGAPORE, Sept 28 (Reuters) - Oil prices rebounded more than 1% on Monday after US President Donald Trump rejected a peace deal from Iran aimed at resolving their conflict and reopening the Strait of Hormuz.
Brent crude futures rose $1.82, or 1.74%, to $106.14 a barrel by 2202 GMT while US West Texas Intermediate crude was at $93.55 a barrel, up $1.14, or 1.23%.
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