• Oil prices rose in Monday morning trade in Asia after President Donald Trump said Iran’s response to US proposals to end the war was ’totally unacceptable'.
  • Iran sent its response via Pakistan, calling for an immediate end to the conflict and guarantees of no further US-Israeli attacks on Iran.
  • International oil benchmark Brent rose by 4.1% to $105.50 a barrel, while US-traded crude increased by 4.4% to $99.80.
  • The Strait of Hormuz, through which about a fifth of global oil and gas shipments passes, has been effectively shut since the war started on 28 February.
  • Israeli Prime Minister Benjamin Netanyahu said the war with Iran will not be over until its enriched uranium stockpiles are removed.
  • Major energy companies like Aramco, BP, and Shell have seen profits jump due to rising oil and gas prices.

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