Oil increases over 1 percent
Oil prices rose by more than 1.7% after U.S. President Donald Trump rejected the peace plan proposed by Iran to resolve the conflict between the two countries and reopen the Hormuz Strait. Brent crude increased by $1.82 to reach $106.14 per barrel, while West Texas Intermediate futures rose by $1.14 to $93.55 per barrel, reflecting the impact of Iran's escalation on global oil prices.
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