Due to U.S. President Trump stating his rejection of Tehran’s response to Washington’s peace proposal, and Iran once again threatening to launch violent actions in the Strait of Hormuz, oil prices surged sharply after the market opened on the 11th.
The London Brent North Sea crude oil July delivery price rose by 2.69%, trading at $104.01 per barrel.
The New York Mercantile Exchange West Texas Intermediate (WTI) June delivery price increased by 2.54%, quoted at $97.84 per barrel.
On the 10th Eastern Time, U.S. President Trump said he had rejected Iran’s response to the U.S. proposal to end the Middle East war, calling it “completely unacceptable.” Earlier, Iran stated it had delivered its latest response to the U.S. ceasefire proposal through Pakistan as intermediary.
The New York Mercantile Exchange West Texas Intermediate (WTI) June delivery price increased by 2.54%, quoted at $97.84 per barrel.
On the 10th Eastern Time, U.S. President Trump said he had rejected Iran’s response to the U.S. proposal to end the Middle East war, calling it “completely unacceptable.” Earlier, Iran stated it had delivered its latest response to the U.S. ceasefire proposal through Pakistan as intermediary.