RismadarVoice Reporters, May 11, 2026
Global oil prices surged on Monday after United States President Donald Trump rejected Iran’s latest peace proposal aimed at ending the ongoing Middle East conflict.
In a post on Truth Social, Trump described Iran’s response as “totally unacceptable,” raising fears of renewed tensions in the region.
The development unsettled global energy markets, with Brent crude rising by more than 4 per cent to nearly $100 per barrel, while West Texas Intermediate (WTI) crude also recorded sharp gains amid concerns over possible disruptions in the Strait of Hormuz.
Iran had earlier warned that it would retaliate against any fresh US military action and insisted it would not permit additional foreign warships in the strategic waterway.
Israeli Prime Minister Benjamin Netanyahu also maintained that the conflict would continue until Iran’s nuclear facilities were dismantled.
Meanwhile, Iranian President Masoud Pezeshkian reiterated Tehran’s defiant stance, stating that negotiations would not amount to surrender.
The rising tensions have heightened international concerns over oil supply routes, particularly the Strait of Hormuz, through which a significant portion of the world’s crude oil passes.
Britain and France are reportedly considering further security measures in the region as diplomatic efforts to restore stability continue.
