Oil Prices Jump 3% After US-Iran Collapse

• Oil prices surged over 3% in Asian trading, with Brent at $104.43 and WTI at $98.33 per barrel.
• President Donald Trump labeled Iran's counter‑proposal “totally unacceptable,” ending hopes for a near‑term US‑Iran peace framework.
• Iran’s demands included sanction lifts, removal of US naval presence in the Strait of Hormuz, and limited nuclear activity rights.
• Trump's upcoming China visit, slated to meet Xi Jinping, may address trade, Taiwan and the Iran conflict, adding geopolitical uncertainty.