Oil prices rose and stock futures ticked down on Sunday as investors reacted after the two sides failed to agree on a U.S.-Iran peace deal.
President Trump said on social media Sunday that Iran’s response to America’s 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 agreement that would pause 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 gas prices remain elevated in the United States, Chris Wright, the energy secretary, said on Sunday that the Trump administration would be open to pausing the federal gas tax, which accounts for 18.4 cents of the per gallon price of gasoline.
