Oil jumps after Trump calls Iran’s peace offer ‘unacceptable’

Brent crude oil spiked 8% to $109.74 per barrel after President Donald Trump rejected Iran’s peace proposal, calling it “unacceptable.” The move reversed weeks of price declines that had been driven by cautious optimism around a potential de-escalation in US-Iran hostilities. Iran’s proposal reportedly included reopening the Strait of Hormuz in exchange for sanctions relief….

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