Iran's New Supreme Leader Reportedly Rejects Proposal For Ceasefire With US Crude Oil Prices Rise Amid Growing Tensions

Iran's new Supreme Leader, Mojtaba Khamenei, on Tuesday reportedly rejected proposals for a ceasefire with the U.S. or reducing tensions with the country amid an intensifying conflict in the Middle East.

According to a Reuters report citing a senior Iranian official, Khamenei had a“very tough and serious” stance on revenge against the U.S. and Israel as the Iran war entered its third week.

Rising tensions sent crude oil prices rising on Tuesday. U.S. West Texas Intermediate (WTI) crude futures maturing in May were up more than 4%, hovering around $96 a barrel. Brent crude futures expiring in May surged nearly 3% to hover around $103 a barrel.

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