Oil prices rose Tuesday as investors assessed uncertainty around U.S.-Iran ceasefire efforts against recovering Middle Eastern crude flows.

President Trump rejected Iran’s proposal over the weekend, calling it “unacceptable,” but Iran said it was still waiting for “definitive news” from Washington.

Oil prices ​rebounded more ‌than 1% on Monday ​after US ​President Donald Trump rejected ⁠a peace deal ​from Iran ​to resolve their conflict and reopen ​the Strait ​of Hormuz.

Oil prices fluctuated as traders weighed recovering Middle East crude exports against stalled U.S.-Iran diplomacy and the risk of disruption around the Strait of Hormuz. Mediators continued efforts to broker a deal,

Australia's top gold producer Northern ‌Star Resources said it rejected an unsolicited A$38.7 billion ($27.1 billion) takeover proposal from South Africa's Gold Fields , the latest sign of consolidation pressure in the gold sector.

Australia’s biggest gold miner Northern Star Resources Ltd. said it rejected a “highly opportunistic” takeover offer from South Africa’s Gold Fields Ltd.

The world's second biggest gold mining company could emerge from a successful merger of South Africa's Gold Fields with Australia's Northern Star

Northern Star shares jumped more than 9% after the Australian gold miner rejected a takeover proposal from Gold Fields.