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Middle East

Oil heads higher as US-Iran peace talks in stalemate

Source: Arab News
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Oil heads higher as US-Iran peace talks in stalemate
Image: Arab News

NEW DELHI: Brent crude oil rebounded more ‌than 3 percent on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated. Brent crude futures rose $3.43, or 3.29 percent, to $107.75 a barrel at 08:40 a.m. Saudi time, ​while US West Texas Intermediate crude was at $94.55 a barrel, up $2.14, or 2.32 percent. Iran announced a peace ​proposal last week at the UN General Assembly in New

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