US-Iran war, May 12 -- Oil prices continued their winning streak on Tuesday, 12 May, after US President Donald Trump raised doubts over a ceasefire with Iran by rejecting Tehran's latest peace proposal, extending the effective shutdown of the crucial Strait of Hormuz.

Brent crude traded near $105 a barrel after gaining 2.9% in the previous session, while West Texas Intermediate hovered near $99.

Back home, crude oil prices on the Multi Commodity Exchange (MCX) also witnessed a similar upward movement. MCX crude oil prices rose nearly a per cent to Rs.9,449 per barrel today.

Trump, on Monday, said that the ceasefire with Iran was "hanging by a thread," citing differences over several key demands, including a complete halt to hostilities...