Global Oil Prices Surge Amid Trump’s Rejection of Iran Proposal
Global crude oil prices surged by more than 3 percent after Donald Trump rejected Iran’s response to a US proposal aimed at ending the conflict, while uncertainty over the reopening of the Strait of Hormuz intensified market concerns.
According to reports, the price of Brent crude rose to 104 dollars per barrel, while West Texas Intermediate (WTI) crude climbed to 99 dollars per barrel.
Oil market monitoring websites reported that Brent crude prices have increased by nearly 20 dollars per barrel since the conflict began, reflecting fears of supply disruptions in the region.
In a statement posted on Truth Social, President Trump said he had reviewed Iran’s response to the US proposal and described it as “completely unacceptable.”
The remarks added to concerns in global energy markets, particularly over the security of shipping routes through the Strait of Hormuz, a key channel for international oil exports.
