Oil Prices Rise as Prospects for U.S.-Iran Peace Deal Fizzle
The New York Times • • general
Key Points:
- Oil prices increased on Sunday following the failure of the U.S. and Iran to reach a peace agreement.
- Stock futures declined as investors reacted to the stalled negotiations between the two countries.
- President Trump publicly rejected Iran’s response to the U.S. proposal, calling it “TOTALLY UNACCEPTABLE!” without providing further details.
- Iran indicated that both sides are working on a short-term deal to pause hostilities for 30 days and lift the blockade of the Strait of Hormuz, an important oil shipping route.