Oil jumps by over 5% as Iran talks stop

 The prices of oil futures continued to rise on Wednesday as the United States and Iran failed to make progress in their negotiations.

It was reported that Iran will likely present a new deal proposal in the coming days after US President Donald Trump allegedly rejected the initial one on the grounds that it did not put enough emphasis on Tehran ending its nuclear program. Meanwhile, Trump warned Iran that there will be "no more Mr. Nice Guy."

West Texas Intermediate for June's deliveries soared by 5.27% at 11:03 am ET to $105.16 per barrel. A minute later, Brent for the same month's settlements surged by 5.43% to $117.36.

https://breakingthenews.net/Article/Oil-jumps-by-over-5-as-Iran-talks-stop/66179811