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00:02Oil prices jumped Monday after President Trump rejected Iran's proposal to reopen the Strait of Hormuz
00:08and restart nuclear negotiations, according to CNBC.
00:12Brent crude futures rose 4% to $108.48 per barrel, their highest level since September 15th,
00:19while West Texas intermediate futures climbed 4% to $96.
00:24Iran offered to reopen the Strait within seven days if the U.S. ended what Tehran called
00:30acts of aggression, lifted its naval blockade and economic warfare, and released Iranian assets.
00:36Trump confirmed he rejected the proposal.
00:40The Wall Street Journal reported Trump expects U.S. strikes on Iran to resume after November's midterm elections.
00:46Energy market participants are pricing in the possibility of renewed U.S.-Iran hostilities after the elections.
00:52For all things money, visit Benzinga.com.
