Oil prices are holding above $100 as the U.S.-Iran ceasefire teeters |
Oil prices are holding above $100 as the U.S.-Iran ceasefire teeters
President Trump called the ceasefire "on massive life support" after rejecting Iran's latest peace proposal, pushing Brent crude above $107
Getty Images / Getty Images
Oil prices rose Tuesday as President Donald Trump declared the U.S.-Iran ceasefire was on "massive life support," raising fresh doubts about whether the conflict in the Middle East will end soon. By mid-morning, Brent crude was trading above $107 a barrel, up more than 3% on the day, with WTI not far behind at above $101 a barrel, also posting gains exceeding 3%. Monday had already seen each benchmark add roughly 3%.
Speaking to reporters, Trump dismissed Tehran's latest counterproposal as "garbage," offering an outright rejection of the terms Iran had put forward. "I would say the ceasefire is on massive life support, where the doctor walks........