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Oil prices rise as Trump rejects 'unacceptable' Iran plan

US President Donald Trump's swift rejection of Iran's response to a US peace proposal has sent oil prices surging amid concerns the 10-week-old conflict will ⁠drag on, keeping shipping through the Strait of Hormuz paralysed.

First seen · 5:19 AM UTCMay 11, 2026

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Oil prices rise as Trump rejects 'unacceptable' Iran planUS President Donald Trump's swift rejection of Iran's response to a US peace proposal has sent oil prices surging amid concerns the 10-week-old conflict will ⁠drag on, keeping shipping through the Strait of Hormuz paralysed.
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