Trump Rejects Iran’s 7-Day Truce Offer; Oil Surges
US President Donald Trump has rejected Iran’s proposal for a seven-day truce in the Gulf, dashing hopes of a quick de-escalation.
Tehran had offered the truce through Qatari mediators on Saturday. Under the proposal, the Strait of Hormuz would reopen on the seventh day, frozen Iranian assets would be released, and sanctions and the blockade would be lifted, according to reports.
Trump turned down the offer, keeping military pressure on Tehran. The rejection sent oil prices surging, with Brent crude climbing about 2.46 per cent to nearly $107 a barrel.
The Strait of Hormuz carries a large share of the world’s oil shipments, so any disruption there ripples through global energy markets.
Mediators say the proposal remains on the table, but Washington has shown no sign of softening its stance.
Why it matters: for India, which imports most of its crude, a prolonged standoff means costlier fuel and fresh inflation risks.
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