Oil Prices Rise as Trump Rejects Iranian Proposal

Key Facts

1Crude oil prices rose after U.S. President Donald Trump rejected a proposal from Iran.

2WTI and Brent rebounded from key support levels, keeping upside targets of $105 and $115 in focus.

Crude oil prices rose after U.S. President Donald Trump rejected a proposal from Iran. FX Empire reported that the rejection reduced hopes for a swift diplomatic resolution, leading to a technical rebound in the energy markets.

WTI and Brent crude rebounded from key support levels, keeping upside targets of $105 and $115 in focus. The qualitative trend remains supported by geopolitical friction involving major producers.