US President Donald Trump branded Iran’s terms for ending the Middle East war “totally unacceptable”, raising the possibility of fresh conflict and sending oil prices sharply higher in early Asian trade on Monday.
Iran had on Sunday responded to Washington’s latest peace proposal and warned it would not hold back from retaliating against any new US strikes or permit more foreign warships in the Strait of Hormuz.
Trump made clear in a post on his Truth Social platform that he would reject Tehran’s counter-proposal, though he did not offer details on its contents.
“I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it — TOTALLY UNACCEPTABLE!” Trump said.
The impasse unnerved global energy markets, with international benchmark Brent crude prices rising 4.65 percent to $99.95 a barrel during Monday morning trade in Asia.
Benchmark US oil contract West Texas Intermediate (WTI) also surged by just over 4 percent to $105.5 a barrel, as investors braced for further disruptions to supplies through the strait, where Tehran has imposed a partial blockade.
Israeli Prime Minister Benjamin Netanyahu — whose forces launched the war on Iran along with the United States on February 28 — also insisted the conflict would not end until Iran’s nuclear facilities were removed.
