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Brent Crude Price Impact
Increase in oil prices following diplomatic stall
Primary Sources
On the 73rd day of the U.S.-Israeli war on Iran, Iran submitted a ...
4 hours ago ... Here's a roundup of what happened in the past 24 hours. Tehran sent a formal response to the latest US peace proposal via Pakistani mediators today. The ...
Iran-US war latest: Trump says Tehran's response to his peace ...
Oil prices have once again jumped after Donald Trump blasted Iran's response to his proposals to end the war as “totally unacceptable”.Brent crude, the international benchmark, jumped 4 per cent on Monday morning as hopes of a peace deal begin to falter. Over the weekend, it emerged that Tehran had responded via Pakistan, which has acted as mediator in the conflict, to the administration’s latest plan to end the fighting.But on Sunday night, the US president wrote on his Truth Social platform: "I have just read the response from Iran’s so-called “Representatives.” I don’t like it — TOTALLY UNACCEPTABLE.”Iranian state media said the country’s response had focused on ending the war on all fronts, especially in Lebanon, and on the safety of shipping through the Strait of Hormuz, where the US and Iran have enacted dueling blockades.It followed the US proposal to end fighting before starting talks on more contentious issues, including Iran's nuclear program.Iran also issued a threat to the UK and France, warning that any warships in the Strait of Hormuz “will be met with decisive response”.South Korea condemns attack on Strait of Hormuz cargo shipSouth Korea's presidential Blue House has condemned the attack in the Strait of Hormuz against a cargo ship operated by one of its shippers. In a statement, it said it would respond once it had identified the source of the attack. South Korean experts have conducted an initial forensics of the damage to the port stern, a senior Blue House official told reporters. The attack had led to a fire in the vessel's engine room.Alex Croft11 May 2026 09:10Our peace offer is generous and legitimate, says TehranWe’ve heard from Iranian foreign ministry spokesperson Esmaeil Baghaei, who has spoken out on Iran’s proposal to end the war with the US. "Our demand is legitimate: demanding an end to the war, lifting the (US) blockade and piracy, and releasing Iranian assets that have been unjustly frozen in banks due to U.S. pressure," Mr Baghaei says in a news conference. Washington, he says, is continuing to uphold unreasonable and one-sided demands. "Safe passage through the Strait of Hormuz and establishing security in the region and Lebanon were other demands of Iran, which are considered a generous and responsible offer for regional security,” he adds. Alex Croft11 May 2026 08:57Report: Britain set to lose 163,000 jobs in 2026 as Iran war sparks economic crisisBritain faces a projected loss of 163,000 jobs this year, with lower-inc...
Trump rejects 'unacceptable' Iran response to peace plan, oil prices ...
2 hours ago ... Days after the U.S. floated an offer in the hopes of re-opening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, ...
Trump rejects Iran peace terms, Tehran warns of new attacks
8 hours ago ... WASHINGTON: US President Donald Trump on Sunday branded Iran's terms for ending the Middle East war “totally unacceptable,” raising the likelihood of renewed ...

