The price of oil rose again following the lack of agreement between the United States and Iran to achieve peace in the Middle East.

Oil prices rose again after a lack of agreement between the US and Iran to achieve peace in the Middle East (REUTERS). Oil rose in Asian markets on Monday after US President Donald Trump rejected the conditions put forward by Iran to end the war in the Middle East, which increased concerns about potential disruptions to energy supplies through the Strait of Hormuz. Asian stock markets traded with mixed results amid geopolitical uncertainty and anticipation of Trump's upcoming visit to China. "I just read the response from the so-called 'representatives' of Iran. I don't like it, it's totally unacceptable!" Trump said before his planned trip to China, where the conflict in the Middle East is one of the main topics of discussion with Chinese leader Xi Jinping. The US leader's reaction increased expectations of a prolonged conflict and heightened fears of further disruptions to maritime traffic through the Strait of Hormuz, a strategic route for global oil trade. From Tehran, Iranian President Masoud Pezeshkian reaffirmed his government's position in the face of international pressure. "We will never bow to the enemy, and if we talk about dialogue or negotiation, it does not mean surrender or retreat," he said on Sunday. In Asian trading, Brent crude from the North Sea rose 4.75% to $105.50 per barrel, while West Texas Intermediate rose 4.16% to $99.95. The US leader's reaction increased expectations of a prolonged conflict and heightened fears of further disruptions to maritime traffic through the Strait of Hormuz, a strategic route for global oil trade (REUTERS). Regional stock markets reflected caution in the face of the international situation. The Nikkei 225 index in Tokyo fell 0.36% to 62,486.84 points, and the Hang Seng in Hong Kong lost 0.34% to 26,303.16 points. In contrast, the Shanghai Composite index rose 0.89% to 4,216.96 points, while the Kospi in Seoul registered a strong advance of nearly 4%, driven by technology stocks. In Tokyo, Nintendo shares fell almost 10% after the company warned on Friday about lower profits for this year and announced a price increase for its Switch 2 console. Meanwhile, US Treasury Secretary Scott Bessent began a tour of Asia before traveling to China for the Trump-Xi summit. Beijing confirmed on Monday that the meeting between the two leaders will take place between Wednesday and Friday. During his visit to Japan, Bessent is scheduled to meet with Prime Minister Sanae Takaichi on Tuesday. Topics of conversation include Tokyo's recent intervention in the foreign exchange market to support the yen. Subsequently, the US official will travel to South Korea, where he will meet with economic officials and with Chinese Vice Premier He Lifeng. "Economic security is national security," Bessent wrote on the social network X before starting his diplomatic agenda. US Treasury Secretary Scott Bessent began a tour of Asia before traveling to China for the Trump-Xi summit (REUTERS). Washington and Beijing have been maintaining trade tensions for more than a year, after both powers imposed reciprocal tariffs on their exports. However, Trump and Xi agreed in October on a one-year trade truce during a meeting held in South Korea. In the foreign exchange market, the euro fell to $1.1758 from $1.1779 recorded on Friday. The British pound retreated to $1.3592 from $1.3625. The dollar rose against the yen to 157.14 yen from the previous 156.76. The euro also gained ground against the pound and traded at 86.50 pence. (With information from AFP)