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#OilPricesRise
Oil Turns Lower on Ceasefire Hopes
WTI crude futures fell toward $111 per barrel on Monday after climbing as high as $115.5 earlier in the session, as reports of a potential Middle East ceasefire weighed on prices. The US, Iran, and a group of regional mediators are said to be negotiating terms for a possible 45-day truce that could pave the way for a more permanent resolution to the conflict. This shift in sentiment followed President Donald Trump issuing a fresh ultimatum to Iran and escalating threats against its civilian infrastructure if it failed to reopen the Strait of Hormuz. Tehran rejected the latest demand, leaving Hormuz effectively closed