President Donald Trump rejected Iran’s latest proposal to end the war, calling the counteroffer “TOTALLY UNACCEPTABLE!” in a Truth Social post and sending oil prices higher in overnight trading.
Brent crude futures rose more than 2% to about $104 a barrel Monday morning
The rejection left the two sides without a clear path to reopening the Strait of Hormuz, according to The Wall Street Journal. Iran’s proposal, relayed through semi-official Tasnim news agency, called for ending the conflict across all fronts and lifting sanctions on Tehran. In the minutes after Trump’s post, equity futures showed modest pressure.
The Nasdaq 100 slipped 0.13% and the S&P 500 shed roughly 0.1%, with Dow futures holding near unchanged. Those moves followed a broadly strong prior week, during which the Nasdaq Composite surged more than 4% and the S&P 500 added over 2% — each notching a sixth straight weekly advance, something neither index had achieved since 2024. Friday’s close left both at all-time highs.