Trump Rejects Iran Peace Terms, Oil Prices Surge

U.S. President Donald Trump rejected Iran's counter-proposals concerning peace terms aimed at ending the Middle East conflict, labeling them as "totally unacceptable." This rejection has raised concerns of renewed conflict, contributing to a sharp increase in oil prices, with Brent crude rising 4.65% to $99.95 per barrel during early Asian trade.

Iran's leadership, including President Masoud Pezeshkian, warned of potential retaliation against any new U.S. strikes and stated they would not hold back in defending their interests. The U.S. proposal reportedly focused on extending a truce in the Gulf and facilitating talks regarding Iran's contested nuclear program.

Israeli Prime Minister Benjamin Netanyahu emphasized that the conflict would not conclude until Iran's nuclear facilities were dismantled. Tensions further escalated with Iran threatening to restrict maritime traffic in the Strait of Hormuz, a critical route for global oil supply.

The U.S. Navy has been positioned to counter any Iranian threats in the region.