Doha: Oil prices rose in early trading on Monday after US President Donald Trump said he rejected Iran's response to proposals aimed at ending the war. Brent crude, the international benchmark for July delivery, rose 2.69 percent to $104.01 a barrel. US West Texas Intermediate crude climbed 2.54 percent to $97.84 a barrel.

According to Qatar News Agency, the market response came after President Trump's remarks which indicated a continued geopolitical tension in the region. The rejection of Iran's response has raised concerns over potential disruptions to oil supplies, influencing the price increase observed in the early trading session.

The increase in oil prices reflects the ongoing uncertainty in international relations and the global oil market's sensitivity to political developments. The market will likely continue to monitor the situation closely as further negotiations and responses from involved parties could significantly impact oil prices.