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Oil prices rise after Trump rejects Iran plan
The rejection by the United States of Iran's proposal to de-escalate in the Gulf and reopen the Strait of Hormuz led to a surge in oil prices, with Brent crude rising to its highest level since September 15 at $108.48 per barrel, and West Texas Intermediate reaching $96.16. This increase comes amid rising tensions in the region and expectations of resuming American strikes against Iran after the midterm elections. Iran previously proposed reopening the strait and outlined conditions for nuclear talks, including lifting the blockade and releasing frozen assets. Meanwhile, the market perceives that the possibility of renewed confrontation between Washington and Tehran remains valid.
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