Trump Rejects Iran's Proposal to End War, Spurring Oil Price Surge

On September 28, 2026, U.S. President Donald Trump dismissed Iran's proposal to end the ongoing conflict, leading to an immediate spike in oil prices. The Middle East Eye reported the event, noting the price increase but without specific details on the proposal or the extent of the surge. Al Jazeera provided more precise information, stating that Brent crude rose more than 3% to surpass $107 a barrel as Washington rejected Tehran's plan to end the war. The exact terms of the Iranian proposal remain unclear, with Tehran asserting it aimed at de-escalation and Washington dismissing it as insufficient. The rejection has heightened fears of further military action in the region, with analysts warning of potential disruptions to global energy markets.