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Trump Rejects Iran Peace Proposal as Oil Prices Surge Past $105

Ethan Caldwell11 May 2026

Trump called Iran's peace proposal "totally unacceptable," pushing Brent crude above $105. Here's what it means for global oil markets and energy supply.

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Oil tankers move through the Strait of Hormuz as tensions rise between Iran, the United States, and Israel amid soaring global crude oil prices and Middle East conflict.

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