Seven months into Hormuz shutdown: Oil remains elevated as Trump rejects Iran proposal

 On Monday, oil prices surged, driven by escalating tensions in the Middle East following Iran’s recent peace proposal. U.S. President Trump’s dismissal of the proposal has contributed to market volatility. Both Brent crude and U.S. West Texas Intermediate saw price increases, although worries over diesel exports continue to shape market sentiment. On Monday, oil prices surged, driven by escalating tensions in the Middle East following Iran’s recent peace proposal. U.S. President Trump’s dismissal of the proposal has contributed to market volatility. Both Brent crude and U.S. West Texas Intermediate saw price increases, although worries over diesel exports continue to shape market sentiment.