Oil Prices Jump After Trump Dismisses Iran's Response to US Peace Proposal
Idag, 11:17
Idag, 11:17
05:17 AM EDT, 05/11/2026 (MT Newswires) -- Oil prices surged Monday after US President Donald Trump dismissed Iran's response to a US peace proposal tied to the ongoing conflict in the Middle East.
International benchmark Brent crude rose 2.6% to $103.9 per barrel, while US West Texas Intermediate was up 2.4% at $97.71.
Trump called Iran's proposal "totally unacceptable"in a post on Truth Social.
"I have just read the response from Iran's so-called "Representatives."I don't like it - TOTALLY UNACCEPTABLE!"the president said in the post.
Shares of oil majors were trading higher in early Monday premarket trading.
BP was up nearly 1.5%, while Eni rose 1.8% and TotalEnergies gained 1.6%.
Chevron and Exxon Mobile gained 1%, while ConocoPhillips was 0.6% higher.
Shell shares edged 0.9% higher.
Idag, 11:17
05:17 AM EDT, 05/11/2026 (MT Newswires) -- Oil prices surged Monday after US President Donald Trump dismissed Iran's response to a US peace proposal tied to the ongoing conflict in the Middle East.
International benchmark Brent crude rose 2.6% to $103.9 per barrel, while US West Texas Intermediate was up 2.4% at $97.71.
Trump called Iran's proposal "totally unacceptable"in a post on Truth Social.
"I have just read the response from Iran's so-called "Representatives."I don't like it - TOTALLY UNACCEPTABLE!"the president said in the post.
Shares of oil majors were trading higher in early Monday premarket trading.
BP was up nearly 1.5%, while Eni rose 1.8% and TotalEnergies gained 1.6%.
Chevron and Exxon Mobile gained 1%, while ConocoPhillips was 0.6% higher.
Shell shares edged 0.9% higher.
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