The price of “Brent” crude oil exceeded $105 after Trump rejected Iran's peace plan
Modern.az reports that, according to ICE exchange data, the July futures of “Brent” crude oil rose to $105.33 per barrel.
“The Wall Street Journal” writes that markets reacted to US President Donald Trump's statement on Iran's latest proposal for resolving the conflict in the Middle East.
On May 10, the US president called Iran's 14-point peace plan unacceptable. The Iranian authorities, however, stated that there is no alternative to the latest proposal for resolving the conflict.
“The Wall Street Journal” notes that the conflict in the Middle East is increasing investors' concerns about a prolonged blockade of the Strait of Hormuz.
According to World Bank forecasts, if fuel transit through the Strait of Hormuz does not return to pre-war levels by the end of the year, the average price of “Brent” crude oil could reach $115 in 2026.
