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Surging oil prices drag US futures lower as Trump rejects Iranian proposal to open Strait of Hormuz

Surging crude prices are dragging on U. S. futures after President Donald Trump rejectedIran’s proposal to reopen the Strait of Hormuz. Iran had offered to reopen the strait and resume talks on its nuclear program if the U. S. lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon. But on Saturday, Trump rejected the proposal saying Iran wanted to make a deal because it was “losing so badly. ”Futures for the 0...

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