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Story summary
- U.S. President Donald Trump rejected Tehran's proposal to reopen the Strait of Hormuz, keeping the naval blockade in place.
- Following the announcement, Brent crude rose about 1.96% to roughly $120 a barrel.
- U.S. West Texas Intermediate increased 0.2% to $107.09 a barrel.
- President Trump posted a Truth Social message threatening Iran, accompanied by an AI-generated image of him holding a gun.
