/ Jun 29, 2026
/ Jun 29, 2026

Trump rejects Iran peace response as oil prices jump

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US President Donald Trump has rejected Iran’s latest response to a US-backed peace proposal, describing it as “totally unacceptable” as tensions in the Middle East continue to escalate.

According to Reuters, Trump’s remarks triggered a sharp rise in global oil prices amid fears that the conflict could drag on and further disrupt shipping through the strategic Strait of Hormuz. Brent crude reportedly jumped by more than $4 per barrel following the comments.

Iran’s proposal reportedly called for an end to fighting across the region, including in Lebanon, compensation for war damages, the lifting of US sanctions, and guarantees against future attacks. Tehran also insisted on maintaining sovereignty over the Strait of Hormuz and demanded the resumption of its oil exports.

Trump responded on his Truth Social platform, saying he had reviewed the response from Iran’s “so-called representatives” and found it unacceptable. He did not immediately outline Washington’s next steps.

The conflict, which has stretched for weeks, has disrupted global shipping and increased concerns over energy supplies. Several Gulf countries have also reported renewed drone activity, raising fears of broader regional instability.

Meanwhile, Benjamin Netanyahu has maintained that military operations cannot end until Iran’s nuclear capabilities and regional proxy threats are fully addressed.

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