Global Stocks Fall and Oil Prices Surge Amid US Rejection of Iran's Strait of Hormuz Proposal

Global stock markets experienced a decline, while oil prices jumped significantly after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. Trump stated that talks would continue, but Iran has shown no indication of softening its demands. This stalemate has led to Brent crude futures rising by as much as 3%, bringing monthly gains to nearly 20%.