US stock futures drop and oil prices rise after Trump rejects Iran's peace offer as 'totally unacceptable'

U.S. stock-index futures declined and oil prices increased following President Donald Trump's rejection of Iran's latest response to a U.S. peace proposal, calling it 'totally unacceptable.' This development raises concerns about escalating tensions in the Middle East, where Iran has effectively blocked oil flow through the Strait of Hormuz since a joint U.S.-Israel offensive began in February. The situation could further disrupt global oil supplies and impact markets.