Trump’s Rejection of Iranian Response Triggers Surge in Global Oil Prices

ARK News... The rejection by the U.S. President of Iran’s response to a proposed American plan to end the war has led to a rise in global oil prices.

According to Reuters, U.S. President Donald Trump rejected Iran’s response to the American proposal aimed at ending the war, causing oil prices to climb worldwide on Monday, May 11, 2026, amid fears of a prolonged conflict that has continued for nearly 10 weeks, keeping maritime traffic through the Strait of Hormuz completely halted.

Days after the United States presented an offer in hopes of resuming negotiations, Iran on Sunday issued a response focused on ending the war on all fronts, particularly in Lebanon.

Iran’s semi-official Tasnim News Agency reported that Tehran called on the United States to end its naval blockade, guarantee that no further attacks would be carried out, lift sanctions, and end the American ban on Iranian oil sales.

The United States had previously proposed ending the fighting before beginning negotiations on the more contentious issues, including Iran’s nuclear program.

70