Oil prices rose and stock futures fell on Monday as investors reacted after the two sides failed to reach a U.S.-Iran peace deal.
President Trump said on social media Sunday that Iran’s latest proposal was “TOTALLY UNACCEPTABLE!” He did not share details about what Iran had offered. Tehran has said the two countries are working on a short-term deal that would suspend fighting for another 30 days and end Iran’s blockade of the Strait of Hormuz, a key oil and gas shipping route in the Persian Gulf.
As gasoline prices remain high in the United States, Chris Wright, the energy secretary, said Sunday that the Trump administration would be willing to suspend the federal gasoline tax, which accounts for 18.4 cents of the price per gallon of gasoline.
