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

Brent crude rises after US president calls overture from Tehran ‘totally unacceptable’

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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May 11, 2026 Oil Energy industry US-Israel war on Iran

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