After Trump's decision, crude oil price rises 2 percent, Brent crosses $106
After U.S. President Donald Trump rejected Iran's proposal to open the Strait of Hormuz, the price of Brent crude oil in the international market rose by about 2 percent on Monday, surpassing $106 per barrel. Trump has reiterated his hope that the war will end soon and that oil prices will fall significantly thereafter.
In the international market on Monday, the price of Brent crude oil rose by about 2 percent, surpassing $106 per barrel.
U.S. President Donald Trump recently rejected Iran's proposal to open the Strait of Hormuz within 7 days. Trump's decision led to the rise in oil prices.
However, Trump has reiterated his hope that the war with Iran will end 'very soon'. Trump also stated that oil prices will see a significant decline after the war ends. –Agency