Oil Jumps After Trump Says Iran's Peace Offer Is 'Unacceptable' Oil Jumps After Trump Says Iran's Peace Offer Is 'Unacce

[Yo_Mama_Been_Loggin]

Source: Bloomberg

(Bloomberg) -- Oil surged after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz.

Brent crude futures advanced as much as 3.5% to $104.80 a barrel, while West Texas Intermediate climbed to near $99. In a social media post, Trump said the response was “TOTALLY UNACCEPTABLE” as the two sides struggle to maintain a fragile ceasefire following a series of flareups in hostilities.

The near-closure of Hormuz since the start of the war at the end of February has choked off supplies of crude, natural gas and fuels to global customers, driving up energy prices and raising inflation fears. The International Energy Agency says the conflict is causing the biggest supply shock in history.

Tehran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported. Iran disputed the report, according to the nation’s semi-official news agency Tasnim.

Read more: https://finance.yahoo.com/sectors/energy/articles/oil-jumps-trump-says-iran-220233057.html

[Deuxcents]

1. Who here thinks there's some oil price manipulation going on?

[gab13by13]

3. Me

No one really believed the 1 page proposal was a peace plan to begin with.

The only logical conclusion was to make money from Krasnov's rejection of something that was never going to be agreed to.

Crude oil today should be $200/barrel. I see it jumped up 3%.

[vapor2]

2. ME, myself and I

[flashman13]

4. We, and by we I mean the entire world, are riding on an out of control roller coaster with no brakes or destination.

This roller coaster is careening around inside the head of a single mad man named Trump the All-Mighty. What could possibly go wrong?

[Cheezoholic]

5. Of course, its Sunday. Go back and look at the timing of his past comments. Too much being put on his mouth n/t

[GiqueCee]

6. You cannot...

... rehabilitate a rabid dog.

[AZ8theist]

7. These treasonous ASSHOLES are making billions off the mumblings of an imbecile.

Wait until later in the week, after the loss bets are placed, that Dear Leader announces ANOTHER peace deal or Hormuz opening is imminent. It's almost as predictable as the hoards of "caravans" coming north just before election day, or the shrieking about deficits when there's a Democratic President. Like clockwork.