Trump Rejects Iran Offer; Oil Surges, Futures Slip

Donald Trump rejected Iran’s counteroffer to end the U.S. and Israeli conflict, posting on social media: “I don’t like it — TOTALLY UNACCEPTABLE!” The comment came Monday and coincided with a rise in oil prices, a modest decline in U.S. stock futures and Bitcoin holding near $81,000.

U.S. West Texas Intermediate crude for June delivery rose more than 2% to $97.88 per barrel by Monday trading, while Brent for July delivery climbed over 2% to $103.93. Traders reacted to comments from Israeli Prime Minister Benjamin Netanyahu, who said the conflict with Iran was “not over,” raising concern that the fighting could escalate and disrupt energy flows through the Strait of Hormuz.

Futures for the Dow Jones Industrial Average opened weaker, down about 31 points, or 0.1%. Contracts on the S&P 500 and the Nasdaq-100 also fell roughly 0.1% after a strong prior week in which the S&P rose more than 2% and the Nasdaq Composite gained over 4%. Both indexes recorded a sixth straight weekly advance for the first time since 2024.

Citi analysts wrote that oil prices could increase further if Iran and the United States fail to reach an agreement. The analysts noted crude has been supported by high inventories, releases from strategic petroleum reserves, weaker demand in some developing economies and intermittent signs of cooling tensions. They added risks lean higher because Iran controls the timing and terms for reopening the Strait of Hormuz.

Both WTI and Brent are about 40% higher than levels before the conflict began on Feb. 28. Traders are monitoring any additional supply disruptions or shifts in demand that would push prices significantly higher.

In cryptocurrencies, Bitcoin traded near $81,073.60, up about 0.2%, with roughly $59 billion in 24-hour volume and a market capitalization near $1.63 trillion. Ether slipped 0.11% to $2,324.56. Solana rose about 1.5% to $94.96, and XRP gained about 2.1% to $1.4606.

Investors are weighing geopolitical risk against recent gains in equities. Diplomatic exchanges, military developments and incoming economic data are being monitored for signs on energy prices and market direction.