West Texas Intermediate & Ebrahim Rezaei

West Texas Intermediate: West Texas Intermediate prices surged as investors braced for further disruptions to oil supplies through the Strait of Hormuz, following the rejection of Iran's peace terms.

Ebrahim Rezaei: Ebrahim Rezaei, spokesman for the Iranian parliament's national security commission, warned Washington that Iran's restraint was over and any attack on its vessels would trigger a strong response against American ships and bases.

West Texas Intermediate: U.S. crude prices (West Texas Intermediate) plunged more than $13 to $88.88 per barrel on news of potential ceasefire.

Ebrahim Rezaei: Ebrahim Rezaei, an Iranian lawmaker, expressed skepticism about the US proposal, describing it as an 'American wish list' and indicating potential resistance to the terms of the deal within Iran.