U.S. Rejects Iran's 14-Point Peace Plan as Oil Prices Rise Over 7% on Monday

According to Guang Da Futures, the U.S. rejected Iran’s 14-point written proposal for ending the conflict on Monday, reaffirming its tough stance, particularly on nuclear issues. The escalation of tensions between the U.S. and Iran drove domestic crude oil prices higher, with intraday gains exceeding 7%.

China imported 38.471 million tons of crude oil in April, down 23.0% month-over-month and 20.0% year-over-year, while cumulative imports for January-April reached 185.292 million tons, up 1.3% year-over-year. Geopolitical uncertainties in the Middle East have heightened supply disruption risks in the spot market.