Brent Crude Tops $105 After Trump Rejects Iran Peace Proposal
Brent crude pushed above $105 a barrel after President Donald Trump dismissed Tehran's ceasefire proposal as totally unacceptable. Traders priced in a fresh leg higher as shipping risk in the Strait of Hormuz climbed alongside renewed war headlines.
Brent crude climbed above $105 a barrel on Monday, opening the week sharply higher after President Donald Trump described Iran's response to the U.S. ceasefire proposal as totally unacceptable. The remarks pushed investors back toward fresh supply-shock pricing across energy markets.
US WTI futures also moved above $100 a barrel. According to CNBC, traders lifted the risk premium after reports of fresh strikes near commercial vessels in the Strait of Hormuz, a chokepoint that handles roughly a fifth of global oil flows.
The surge in energy prices pulled US equity futures lower, pressured European defence shares, and weighed on the dollar-yen pair. Analysts at major banks warned that Brent could test $110 in the coming sessions unless diplomatic channels reopen between Washington and Tehran.
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