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Oil Prices Rise After Trump Rejects Iran Peace Deal

Oil prices gained about 2 percent after US President Donald Trump rejected an Iranian peace proposal. Meanwhile, renewed Houthi attacks and Middle East supply concerns kept energy markets undersupplied.

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FILE PHOTO: An oil tanker sails at the sea near the Omani coast, as seen from Musandam, Oman, June 26, 2026.

Brent Crude Oil rose 1.6% to $106 a barrel during Monday morning trade after United States President Donald Trump rejected a peace proposal from Iran over the Strait of Hormuz.
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