Oil Prices Rise As U.S., Iran Disagree On Peace Proposal
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While the Strait of Hormuz remained largely closed, keeping global energy supplies tight, oil prices jumped $4.16 to $105.45 a barrel on Monday. SINGAPORE, May 11 (Reuters) - Oil prices rallied on Monday, a day after President Donald Trump said Iran’s response to a U.S. proposal was “unacceptable,” raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight. Brent crude futures LCOc1 climbed $4.16 or 4.11% to $105.45 a barrel at 0340 GMT. U.S. West
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