Tiger Newspress05-11
Oil prices jumped $3 a barrel on Monday as the United States and Iran failed to agree to a peace proposal drafted by Washington while the Strait of Hormuz remained largely closed, keeping global energy supply tight.
Brent crude futures climbed $3.21 or 3.17% to $104.50 a barrel and U.S. West Texas Intermediate was at $98.51 a barrel, up $3.09, or 3.24%.
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