Crude oil prices jump, Brent tops $100 after Iran dismisses US ceasefire proposal; more upside ahead?

Crude oil prices jumped, with the brent oil prices raising about $100 a barrel, amid uncertainty over the end of US-Iran war. While US has reportedly sent a ceasefire report to Iran, the Islamic Republic said it was reviewing the proposal, but had no intention of holding talks.

Brent crude oil price gained 1.56% to $103.81 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 1.59% to $91.76.