U.S. oil prices near $100 as Trump rejects Iran peace plan, raising Middle East tensions.

U.S. oil prices surged early Monday, approaching $100 per barrel after President Donald Trump dismissed Iran's response to a U.S. peace proposal as "totally unacceptable." This rejection has heightened fears of conflict in the strategic Strait of Hormuz, a key oil shipping route. The price jump reflects concerns over potential supply disruptions amid escalating geopolitical tensions. Investors will be watching closely for further developments that could impact global oil markets.