Brent Tops $108 as Trump Rejects Iran Hormuz Deal — SkimNews
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- Brent crude topped $108 after Trump rejected an Iranian proposal to reopen the Strait of Hormuz, per CNBC.
- Wall Street sold off bonds, pushed yields higher, and sent Dow futures sliding as oil climbed, according to WSJ and Bloomberg headlines.
Why it matters: With the Strait of Hormuz — a chokepoint for a major share of seaborne oil — still effectively closed, crude above $108 keeps fuel and energy-input costs elevated for consumers and businesses, while the bond selloff signals traders are pricing in stickier inflation rather than a near-term diplomatic resolution.
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