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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida

Oil prices climb after Trump dismisses Iran’s response to peace plan

Donald Trump Oil Iran United States Tehran China
Two people ride a motorcycle past a large billboard showing bound hands above storefronts.
A motorcycle passes a huge anti-US billboard with photo depicting US President Donald Trump at Valiasr square in Tehran. Photograph: Abedin Taherkenareh/EPA

Oil prices have climbed after Donald Trump condemned Iran’s response to US proposals to end the war as “totally unacceptable”.

The president’s rejection of Tehran’s overture in a post on his Truth Social platform triggered a jump in Brent crude, the international benchmark for oil prices, by as much as 4% on Monday to $105.50 a barrel, before easing back to settle at $103.50.

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