Oil prices jump as Trump rejects Iran's truce offer

euronews.com —

Oil prices jumped more than 3% early Monday, with Brent trading above $107 a barrel, after US President Donald Trump rejected Iran's truce offer to reopen the Strait of Hormuz, reversing market optimism from late last week. Trump dismissed Tehran's seven-day ceasefire proposal, which would have eased a global supply crisis, saying "I reject their proposal," though he told Axios that indirect talks could resume as early as Monday. Iran maintains conditions including frozen asset release and sanctions lifting. The price surge revived inflation fears, weighing on stocks and bonds. South Korea's Kospi fell 2.3%, while the 10-year Treasury yield neared its highest since 2007. Gold dropped over 2% to $4,220 an ounce.


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