Oil prices rise as Trump rejects Iranian truce proposal

Oil prices climbed above 104 dollars per barrel, with Brent crude rising by 3.29%, following Donald Trump's rejection of an Iranian proposal to end the ongoing conflict. Trump described the Iranian offer, submitted through Pakistan, as unacceptable via social media. The conflict in the region escalated following an alleged U.S.-Israeli offensive against Iran on February 28, leading to the effective closure of the Strait of Hormuz. Iran's proposal reportedly included an end to hostilities on all fronts and security guarantees for maritime navigation. Meanwhile, a cargo ship was struck by a drone in Qatari waters while traveling from Abu Dhabi, though it continued its journey. France and Britain are currently pursuing a diplomatic initiative to establish an international coalition to secure the strait. Despite these efforts, negotiations between Washington and Tehran remain deadlocked with no clear indication of future progress.