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Oil prices hold firm on Tuesday as U.S.-Iran talks remain stalled after President Donald Trump dismissed Iran’s response to a U.S. proposal, calling Tehran’s terms "garbage."
Both international benchmark Brent crude and U.S. benchmark WTI crude rose more than 1%, hovering around $105.4 and $99.5 per barrel, respectively, as of 6:30 a.m. GMT.
Asian stocks fell, except for Japan’s Nikkei 225, which rose 0.5%. South Korea’s Kospi retreated 1.7%, Hong Kong’s Hang Seng declined 0.2%, and China’s Shanghai Composite slid 0.3%.
Pan-European Stoxx 50 futures were 0.9% lower, while futures linked to all major U.S. indices also pointed to further declines, with the tech-heavy Nasdaq down 0.6%.
Precious metals edged lower, with gold falling 0.8% to below $4,700 and silver slipping 2.5% to $83.9 per ounce.
Bitcoin rose slightly by 0.3% to $81,000, while Ethereum fell 1.2% to $2,300. The overall cryptocurrency market capitalization also posted a modest 0.2% increase to $2.7 trillion.
U.S. President Donald Trump met with senior national security officials at the White House on Monday as reports suggested Washington was considering military options against Iran after nuclear negotiations stalled.
Before the meeting, Trump criticized Iran’s latest response to a U.S. proposal aimed at limiting Tehran’s nuclear activities and described the ceasefire as being on "massive life support."
According to CNN and Axios, U.S. officials are debating whether to escalate pressure through military action or continue diplomatic efforts.
Iran recently rejected the latest U.S. proposal and submitted a revised plan that Trump called "totally unacceptable."
Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that Tehran was prepared for “all options,” saying Iran’s armed forces were ready to deliver a "memorable lesson" to any aggressor. He also insisted there was "no alternative" to accepting the rights outlined in Iran’s 14-point proposal.
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