Oil climbs around $4 as Trump rebukes Iran's response to peace plan | Daily Sabah

Oil prices surged $4 as U.S. President Trump criticized Iran's response to the peace plan, highlighting concerns over supply disruptions at the Strait of Hormuz. The world has lost approximately 1 billion barrels of oil in recent months, and energy markets are expected to take time to stabilize. Trump's upcoming visit to China aims to leverage Beijing's influence to push for a ceasefire and resolution of the Strait of Hormuz crisis.