Trump Rejects Iranian Peace Plan, Sends Oil Prices Soaring

US President Donald Trump has rejected an Iranian peace plan submitted to Washington through Qatari mediators, sending global oil prices surging sharply. Futures for North Sea Brent crude rose by $3.43 (73.5 crowns) to $107.75 (2,309 crowns) per barrel, while US West Texas Intermediate gained $2.14 (45.9 crowns) to $94.55 (2,026.1 crowns), according to Reuters.

The Iranian plan was offered last week at the UN General Assembly in New York, where Iran said it had sent Washington a draft peace agreement through Qatari mediators. Trump told reporters he had rejected the plan, but added that he expected talks to continue.

Market analysts believe the rejection has dampened hopes for a swift breakthrough, and the key level remains $120 (2,571.6 crowns) per barrel. Sugandha Sachdeva, founder of Indian research firm SS WealthStreet, warned that until the price holds above that mark, a pullback remains likely.