Oil rebounds after Trump rejects Iran peace deal - Reuters

Oil prices rebounded following President Donald Trump's rejection of an Iranian proposal to reopen the Strait of Hormuz and end fighting. Despite this dismissal, Iran continues to insist that diplomacy remains the only viable solution to its conflicts with the United States and Israel. Meanwhile, negotiators are pressuring Iran to make significant concessions regarding its nuclear program as a necessary condition to revive ceasefire discussions with the US after the recent truce bid was rejected.