Oil Jumps 3% After US‑Iran Deal Collapse

Oil prices surged over 3% in Asian trading, with Brent at $104.43 and WTI at $98.33 per barrel.
The jump followed President Donald Trump’s rejection of Iran’s counter‑proposal to a US peace framework, calling it “totally unacceptable.”
Iran’s demands included sanction lifts, removal of US naval presence in the Strait of Hormuz, and limited nuclear activity rights.
Tensions rise ahead of Trump’s upcoming China visit, where he will meet Xi Jinping to discuss trade, Taiwan and the Iran conflict.