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Mon, 11 May 2026

Mon, 11 May 2026 Oil prices jump after Trump dismisses Iran proposal to end war

The Strait of Hormuz waterway remains effectively shut, severely disrupting global energy shipments.
Oil prices have increased on Monday morning after President Trump described Iran's response to US proposals as "totally unacceptable".
* Brent crude rose by 4.1% to $105.50 per barrel
* US-traded crude increased by 4.4% to $99.80 Iran called for an end to the conflict and guarantees of no further attacks on its territory in its response, which was sent via Pakistan.