International crude rose about 3% on Monday as prospects for a U.S.-Iran deal dimmed. President Trump said he does not intend to extend a U.S.-Iran memorandum of understanding signed in June that technically expired on Monday. Major disagreements remain, including over the Strait of Hormuz. Other U.S. officials signaled Washington is not in a hurry to end the nearly six-month confrontation. The U.S. Energy Secretary described U.S. policy toward the Islamic Republic as a long-term game, and senio

International crude rose about 3% on Monday as prospects for a U.S.-Iran deal dimmed. President Trump said he does not intend to extend a U.S.-Iran memorandum of understanding signed in June that technically expired on Monday. Major disagreements remain, including over the Strait of Hormuz. Other U.S. officials signaled Washington is not in a hurry to end the nearly six-month confrontation. The U.S. Energy Secretary described U.S. policy toward the Islamic Republic as a long-term game, and senior adviser Jared Kushner said Trump will be patient on any agreement.