Brent crude rises after US president calls overture from Tehran ‘totally unacceptable’
Oil prices have climbed after Donald Trump condemned Iran’s response to US proposals to end the war as “totally unacceptable”.
The president’s rejection of Tehran’s overture in a post on his Truth Social platform triggered a jump in Brent crude, the international benchmark for oil prices, by as much as 4% on Monday to $105.50 a barrel, before easing back to settle at $103.50.
Brent hitting $105.50 on Trump’s Truth Social post shows how volatile oil markets are with every word he says. Iran’s offer must have been pretty generous if he called it ‘totally unacceptable.’
So Trump rejects Iran’s response without even detailing what they proposed? Meanwhile, we’re paying $103.50 a barrel. Feels like we’re being held hostage by these geopolitical games.
Interesting that the market jumped 4% just on Trump calling Iran’s plan ‘totally unacceptable.’ I wonder if Iran actually made a reasonable offer and he shot it down for political posturing.
The disconnect between Westminster and the rest of the country has never been wider. (fa3060)