Oil prices rise after Iran's Strait offer

Oil prices rose due to Iran's rejection of negotiations with the United States and its demand to lift the blockade on its ports, amid escalating tensions over the Strait of Hormuz. Iran called for a halt to American attacks, the withdrawal of U.S. forces, and the lifting of sanctions in exchange for reopening the strait, which handles about 20% of the world's oil. However, these tensions have led to decreased oil flows and an increase in gasoline prices in the United States.

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