Quote from Aisha_S on May 11, 2026, 8:13 am

President Donald Trump has formally rejected a counter-proposal from Iran aimed at ending the ongoing conflict in the Middle East, describing Tehran’s demands as “totally unacceptable.” In a statement shared on social media and reflected in early morning briefings, the U.S. President signaled a hardening stance, asserting that any deal must include more stringent provisions regarding Iran’s nuclear capabilities and a full reopening of the Strait of Hormuz.

The rejection has sent immediate shockwaves through global energy markets. Brent crude oil prices surged by 4.5% in early trade, reaching over $105 per barrel, while U.S. crude futures gained significantly to trade above $100. Analysts warn that the deadlock in negotiations could lead to a prolonged maritime blockade, further choking off a corridor that typically carries about 20% of the world’s energy supply.

Domestically, the surge in oil prices is expected to exacerbate inflationary pressures, with gasoline prices already hovering at multi-year highs. The breakdown in talks follows a brief period of optimism where a “short-term memorandum” had been rumored, but the latest developments suggest that military and economic tensions are entering a more volatile phase.

In response, Iranian officials have warned of potential “new attacks” if the U.S. blockade of its ports continues. The geopolitical stalemate remains the dominant driver of global market uncertainty as the conflict enters its 11th week, with global leaders now scrambling to prevent a further escalation into a wider regional war.

https://punchng.com/trump-rejects-iran-peace-terms-as-oil-prices-surge/