Kathmandu. Oil prices rose in Asian markets on Monday after US President Donald Trump rejected Iran’s terms ending the war in the Middle East.

President Trump has rejected Iran’s response to his latest peace offer, raising the prospect of more violence in the Strait of Hormuz and disruption of oil supplies.

Trump, who will travel to China this week, is likely to focus his trip on efforts to end the war in Iran.

“I just read the response of the so-called ‘representatives’ of Iran,” he said. I didn’t like it. This is completely unacceptable. “We will never bow down to the enemy, and when it comes to dialogue or negotiations, it should not mean surrender or retreat,” President Massoud Pezeskian said in a message posted on X-X on Sunday. ”

Lloyd Chan of Japanese bank MUFG said Trump’s immediate rejection of these demands “underscores the widening gap between the two sides, and instead of an accelerated easing of tensions, risks long-term uncertainty.” “For the oil market, this indicates the possibility of continued geopolitical risks as the disruptions in Hormuz will continue to increase,” Chan added.

“The Nikkei fell 0.4 percent and the Hang Seng 0.34 percent, but Seoul’s kopsi rose 4 percent,” Japan-based oil market analysts said. Shares of Nintendo plunged nearly 10% in Tokyo on Friday after the Japanese gaming giant warned it would make less profit this year.

U.S. Treasury Secretary Scott Besant will travel to Japan and South Korea before traveling to China to prepare for a high-level summit with Chinese President Xi Jinping. In Japan, Besant is scheduled to meet with Prime Minister Shane Takeichi on Tuesday. Tokyo has recently reported market intervention to help the yen. In Seoul, he said he would meet Chinese Vice Premier He Lifeng.

“Economic security is national security,” Besant wrote on X. Washington and Beijing slapped tariffs on each other’s exports a year ago, and Trump and Xi agreed to a year-long trade truce with South Korea in October.