Oil prices jump after Trump dismisses Iran proposal to end war
Summary
Oil prices rose sharply after President Donald Trump rejected Iran’s response to U.S. efforts to end the war. Iran asked for an immediate stop to the conflict and promises that the U.S. and Israel would not attack Iran again, but President Trump called their reply “totally unacceptable.”Key Facts
- Oil prices increased by about 3% in early trading in Asia: Brent crude reached $104.50 per barrel, and U.S. crude hit $98.40.
- Iran sent its response to the U.S. through Pakistan, which is acting as a mediator.
- Iran wants an immediate end to the war and guarantees that the U.S. and Israel will not attack Iran again.
- The U.S. demands include reopening the Strait of Hormuz for free passage and stopping Iran’s nuclear enrichment activities.
- The Strait of Hormuz, a key route for global oil shipments, has been shut since the war began on February 28.
- President Trump publicly said he found Iran’s reply “totally unacceptable.”
- Israeli Prime Minister Benjamin Netanyahu said the war will continue until Iran’s stockpiles of enriched uranium are removed.
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