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Trump Rejects Iran Peace Plan, Oil Prices Jump

Guavy AI Editorial Team
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Oil
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Oil prices surged more than 1% on Monday after US President Donald Trump rejected Iran's peace proposal to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated.

Brent crude futures rose $1.32, or 1.27%, to $105.64 a barrel by 0036 GMT while US West Texas Intermediate crude was at $93.11 a barrel, up 70 cents, or 0.76%.

Iran announced a peace proposal last week at the UN General Assembly in New York, saying it had been transmitted to the Americans via Qatari mediators.

Trump said on Saturday he rejected the plan but told Axios in a phone interview on Sunday that he expected US negotiators to engage in more talks this week.

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