Trump Rejects Iran MoU Extension, Sending Oil Prices Soaring Past $91
US-Iran tensions escalated as President Trump rejected an extension of peace talks after the memorandum of understanding (MoU) between Washington and Tehran expired. This move has sent oil prices soaring, with Brent crude futures surging 0.7% to $91.49 a barrel by 0408 GMT on Tuesday.
Trump's decision comes despite previous promises to end the war in West Asia soon and bring down oil and gas price hikes. The US President maintained that ensuring Iran never acquires a nuclear weapon is his top priority, contradicting outgoing White House Press Secretary Karoline Leavitt's assertion that keeping oil and gas prices low for Americans is the administration's primary goal.
Iran's Foreign Ministry rebuffed any plans of additional negotiations taking place between the two sides, stating that the US violated the understanding from the beginning. A senior Iranian official also announced that Tehran will switch to a 'fully offensive' military stance as attempts to end the war with the US hit a wall once again.