Oil prices surged sharply after Washington and Tehran failed to agree on a proposed plan aimed at ending regional tensions.
Webdesk – MediaBites News
Iranian state media has strongly rejected a US-backed proposal to end the ongoing conflict, describing the plan as an attempt to force Tehran into “surrender to Trump’s greed”.
According to Islamic Republic of Iran Broadcasting, the Iranian response to Washington’s proposal reaffirmed what it called the “fundamental rights of the Iranian nation”.
In a statement shared on its Telegram channel and reported by Al Jazeera, IRIB claimed the US proposal failed to respect Iran’s sovereignty and national interests.
The broadcaster said Tehran’s latest response also stressed the need for war reparations from the United States, recognition of Iran’s sovereignty over the Strait of Hormuz, an end to economic sanctions, and the release of Iranian funds and assets frozen abroad.
The sharp exchange between Washington and Tehran further increased tensions in global energy markets, with oil prices rising significantly amid concerns over supply disruptions.
According to Reuters, Brent crude futures jumped $3.18, or 3.14 percent, to reach $104.47 a barrel. Meanwhile, US West Texas Intermediate crude rose $3.09, or 3.24 percent, to $98.51 a barrel after posting gains in the previous trading session.
Market analysts linked the spike in oil prices to fears surrounding instability in the Strait of Hormuz, a key global shipping route for oil exports, which remains largely restricted amid heightened regional tensions.
The latest disagreement highlights the fragile state of diplomacy between Iran and the United States, with both sides continuing to exchange tough public positions while uncertainty grows over the future of regional peace efforts and global energy security.
