OilOil refers to a globally traded energy commodity whose price is shaped by supply, demand, inventories, geopolitics, and economic activity. The term belongs in Level 7 because it...Read More prices rebounded above $105 after President Donald Trump rejected an Iranian proposal but indicated that further talks could take place. Markets remained focused on the outlook for Iran tensions, diplomacy and global oil supplies.
Oil rebounded on September 28 after U.S. President Donald Trump said he had rejected Iran's proposal to resolve the conflict and reopen the Strait of Hormuz, while indicating that U.S. negotiators could hold more talks with Tehran this week. Reuters reported Brent at $105.64 and WTI at $93.11 by 00:36 GMT. This confirms a material advance from Piplix's September 26 story.
