Trump Rejects Iran Peace Offer as Oil Prices Surge

President Donald Trump rejected Iran's latest response to a U.S. peace proposal, describing the offer as "the weakest piece of garbage" and stating that the existing cease-fire is "on massive life support." The diplomatic stalemate centers on a new nuclear framework and authority over the Strait of Hormuz.

The rejection triggered immediate economic reactions. Crude oil futures surged, with Brent crude reaching $106.25 a barrel. On Wall Street, investors began a "NACHO" (Not A Chance Hormuz Opens) trade, anticipating the strategic waterway will remain closed. While the NASDAQ and S&P 500 initially reached record closings, subsequent volatility saw declining U.S. and European stock futures and a strengthening U.S. dollar.

International markets faced further pressure, with the Nikkei index in Japan and the Stock Exchange of Thailand both finishing lower. Amidst this tension, reports emerged that the United Arab Emirates has been secretly conducting military strikes against Iran to safeguard its regional economic influence.