Iran submitted a new proposal to U.S. negotiators focused on ending the Middle East conflict. Iran’s semi-official\u00a0Tasnim news agency said<\/a> that the counteroffer called for an end to the war on all fronts and the lifting of sanctions on Tehran, citing an informed source.<\/p>\n However, Trump said he\u00a0did not like<\/a>\u00a0Iran’s response and called it “TOTALLY UNACCEPTABLE!” in a Truth Social Post. <\/p>\n Meanwhile, Israeli Prime Minister\u00a0Benjamin Netanyahu<\/a>\u00a0said Sunday that the war with\u00a0Iran<\/a>\u00a0was “not over,” as the U.S. and Israel still aim to curb Tehran’s nuclear ambitions.<\/p>\n Netanyahu’s comments come ahead of Trump<\/a>‘s trip to China later this week, where he’s expected to meet with Chinese President\u00a0Xi Jinping<\/a>. The war and the subsequent closure of the Strait of Hormuz by Iran have spiked global energy costs and sharply raised gas prices in the U.S.<\/p>\n The\u00a0West Texas Intermediate<\/a>\u00a0futures for June was 3.94% higher at $99.18 per barrel as of 9:32 p.m. ET.\u00a0Brent crude<\/a>\u00a0futures for July rose 3.49% to $104.83 per barrel.<\/p>\n South Korea’s Kospi gained 4.70% after opening to a fresh record, while the small-cap Kosdaq was 0.30% lower. Index heavyweight SK Hynix rose 10.74%, tracking U.S. chip-related equities which surged Friday. <\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0was in choppy trade and was marginally lower, while the Topix gained 0.19%. Nintendo shares fell 5.54%, as investors digested news that the game developer will hike<\/a> Switch 2 prices while expecting a decline in console sales. <\/p>\n Australia’s S&P\/ASX 200<\/a> was 0.83% lower.<\/p>\n China’s CSI 300 added 0.58%, while Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0declined 0.48%. Investors were also assessing data showing that China’s consumer and producer inflation rose more than expected<\/a> in April, driven by higher commodity costs linked to the Middle East conflict. <\/p>\n Stock Chart IconStock chart icon![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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