Oil prices rise after Trump rejected Iran's proposal to end war

Tehran sent its response through Pakistan, which has served as mediator between the two sides, demanding an immediate end to the conflict and guarantees for no further attacks US-Israel to Iran, according to Iran's semi-official news agency Tasnim, writes BBC.

The international oil price Brant rose by 4.1% to $11.50 per barrel, while crude oil traded in the US increased by 4.4% to $99.80.

The main waterway of the Hormuz Strait has been effectively closed since the start of the war on 28 February, seriously cutting off global oil and gas supplies.