Oil prices climb after Trump rejects Iran’s peace proposal

Oil markets have opened in Asia, with prices rebounding after Trump rejected an Iranian proposal to end the war and reopen the Strait of Hormuz.

Brent Crude futures rose more than 1 percent to $105.64 a barrel by 00:36 GMT, Reuters reported, while US West Texas Intermediate crude climbed more than half a percent, reaching $93.11 a barrel.

MNA