Oil Climbs as Hormuz Stays Shut After Trump Rejects Iran’s Offer
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Good morning. Oil jumps after Donald Trump rejects Iran’s peace offer. Keir Starmer’s UK rivals circle before his make-or-break reset speech. And Google’s parent is poised to become the world’s biggest company. Listen to the day’s top stories.
Oil surged after Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the Strait of Hormuz. Meanwhile, more than 40 nations will meet today to outline their military contributions to a European-led mission to escort ships through the crucial waterway once there’s a stable ceasefire.