Energy · 1 views

Oil Prices Surge After Trump Rejects Iran Peace Offer

Oil prices spiked in early Asian trade on Monday after President Trump unequivocally rejected Iran's response to a U.S.-drafted peace proposal.

Source OilPrice AI Summary Updated May 11, 2026

Story intelligence Beta

Freshness Stale Updated May 11, 2026

Confidence Limited Single-outlet story

Coverage Single outlet

Views 1 Community interest

Read time 1 min ~89 words

AI Summary

Oil prices spiked in early Asian trade on Monday after President Trump unequivocally rejected Iran's response to a U.S.-drafted peace proposal. At the time of writing, Brent crude was up 3.33%, trading at $104.60 per barrel, while West Texas Intermediate had risen to $98.62 per barrel, up 3.35%. The spike followed a social media post from Trump on Sunday evening in which he described Iran's response to the proposal as "totally unacceptable". The President did not disclose details of Iran’s response, but he has repeatedly warned that if an…

Read full article on Oilprice

AI summaries can be wrong sometimes—always verify important details using the source article.