Texas oil rises slightly by 0.78% amid potential US-Iran rapprochement
West Texas Intermediate (WTI) crude oil rose slightly by 0.78% on Monday, reaching $112.41 per barrel, moderating from the nearly $114 per barrel it hit earlier today as US President Donald Trump spoke about the situation in the Middle East. EFE At the end of the session, WTI futures, the US benchmark crude, added 0.87 cents to the previous day's close. Trump appeared at the White House with Secretary of War Pete Hegseth and other senior US military officials to explain the rescue operation of a US soldier on Iranian soil, amid the war triggered by the joint operation with Israel on February 28.
TL;DR
- WTI crude oil rose by 0.78% to $112.41 per barrel.
- President Trump commented on the situation in the Middle East and negotiations with Iran.
- Trump stated that Iran is negotiating in "good faith" and hopes for an agreement.
- A possible 45-day ceasefire between the US, Iran, and regional mediators is reportedly being discussed.
- Trump called Iran's peace proposal "significant" but not "good enough."