Oil prices jump after Trump rejects Tehran’s response
Oil prices have surged at the opening of trading today shortly after U.S. President Donald Trump rejected Tehran’s response to the proposal presented by Washington to end the war, WAM reported.
Brent crude futures rose by US$3.21, or 3.17 percent, to reach $104.50 per barrel, while US West Texas Intermediate crude gained $3.06, or 3.21 percent, to $98.48 per barrel.
As it was reported, on Sunday, Iran formally presented to Pakistani mediators its response to the latest US proposal aimed at ending the war of aggression against the country, IRNA reported.
According to the proposed plan, the current phase of negotiations is focused exclusively on the cessation of hostilities in the region, the source told IRNA.
Meanwhile, U.S. President Donald Trump on Sunday sharply criticized Iran’s response to a U.S.-backed proposal aimed at ending the ongoing regional conflict, calling Tehran’s position “totally unacceptable.”