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The Economic Times
The Economic Times
Business
Veer Sharma

Oil Price Today (September 28): Crude oil gains to $106 as Trump rejects Iran deal. Where are prices headed?

Oil Iran Daan Struyven United States Donald Trump Goldman Sachs JPMorgan

Oil prices rebounded more than 1% on Monday after US President Donald Trump rejected an Iranian peace proposal aimed at resolving the conflict and reopening the Strait of Hormuz, keeping tensions in the Middle East elevated.

Iran presented a peace proposal at the UN General Assembly in New York last week, saying it had been passed to the United States through Qatari mediators. Trump said on Saturday that he had rejected the proposal, although he told Axios in a phone interview on Sunday that he expected US negotiators to hold further talks this week.

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