Global oil prices climbed after former U.S. President Donald Trump rejected Tehran’s response to Washington’s proposal to end the ongoing war. On Sunday, Brent crude rose by 3.17 percent to reach 104.50 dollars per barrel, while U.S. crude increased by 3.21 percent to about 98.48 dollars per barrel. U.S. Ambassador to the United Nations Mike Waltz said the latest American proposal set a clear red line, but Trump dismissed Iran’s reply as completely unacceptable.

The lack of a peace deal in recent weeks has hindered the reopening of the Strait of Hormuz, a key route for nearly one-fifth of global oil and gas shipments. Iranian state media reported that a senior military official warned of possible trouble for ships from countries enforcing sanctions against Iran. Meanwhile, the U.S. has maintained its naval blockade on Iranian vessels and ports, attacking two Iranian-flagged tankers last Friday.

Crude prices now stand about 20 dollars higher per barrel than before the war began, raising fuel costs for Americans. Analysts warn that Trump’s rejection could prolong the Middle East conflict, further unsettling global energy markets.