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Oil prices rose this Monday morning after US President Donald Trump rejected Tehran's response to the latest proposal to end the Iran war.
Oil prices rose in early trade as investors processed recent developments in the Middle East, with Brent crude and U.S. crude rising by over 4%.
This comes after Trump's rejection of Tehran's response to the latest US proposal to end the conflict in Iran and the subsequent impact on trade passing through the Strait of Hormuz.
In other trading, US futures fell sharply, while Tokyo's Nikkei 225 index fell 0.4% to 62,486.84, after hitting another intraday record above 63,300./ CNA
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