U.S. Crude Prices Rise 3.08% Amid Continuing Middle East Conflict

AI Summary

U.S. President Donald Trump rejected Iran's counterproposal to end a 10-week war, defining it as 'totally unacceptable.' This impasse continues to strain global energy markets, particularly choking the Strait of Hormuz. U.S. West Texas Intermediate futures for June delivery increased by 3.08% to $95.42 per barrel, while Brent crude for July delivery rose 3.16% to $104.49 per barrel. The dynamics of this ongoing conflict suggest substantial volatility for energy prices.