WTI Crude Oil rallies (again) as Trump rejects Iran peace proposal
The post WTI Crude Oil rallies (again) as Trump rejects Iran peace proposal appeared on BitcoinEthereumNews.com. Wednesday’s EIA inventory data will test how tight US crude supply has become amid the prolonged Hormuz closure. WTI Crude Oil climbed about 3.3% on Tuesday, extending a multi-day rally that pushed price toward the $100 round figure in spot markets. The session printed a steady stepwise advance through European and US trade, marking a high close to $99.40 before consolidating around $98.70 just below the triple-digit level. The Tuesday rally followed President Trump’s rejection of Tehran’s latest peace proposal, which he dismissed as ‘garbage’ while warning the existing ceasefire was on ‘life support.’ Reports suggested Trump is preparing to meet with his national security team to consider renewed military action and to discuss escorting commercial vessels through the Strait of Hormuz, further reducing the likelihood of a near-term reopening. Saudi Aramco CEO Amin Nasser war