Oil prices rise 4.1% after Trump rejects Iran’s peace proposal
Crypto Briefing
Crude oil prices jumped 4% as President Trump rejected Iran’s peace proposal, escalating tensions regarding the Strait of Hormuz.Summary
Crude oil prices rose by approximately 4% after President Trump rejected a 10-clause peace proposal from Iran that included demands for sanctions relief and permanent cessation of hostilities. In response, Trump issued a deadline for Iran to reopen the Strait of Hormuz, threatening potential military action. The Strait of Hormuz is a critical global chokepoint, accounting for roughly 20% of the world’s oil supply. Experts warn that a potential closure of this route could cause oil prices to surge by 20-50%, significantly impacting global energy markets and consumer costs.
(Source：Crypto Briefing)