Oil prices up, and S&P 500 and Nasdaq futures down as Trump rejects Iran peace deal

Oil prices are up by over 1% even as S&P 500 futures and Nasdaq futures are down by 0.1%. President Donald Trump has not approved Iran peace deal to reopen Strait of Hormuz.

In an interview with NBC News' 'Meet the Press' on Sunday, Iranian Foreign Minister Seyyed Abbas Araghchi, said that his country is ready for a “doomsday war" with the US.

US President has told aides he expects to resume bombing Iran after the November midterms, a Wall Street Journal report claimed citing officials. Earlier this week, Trump again made the open threat of annihilating Iran during his speech to the UN General Assembly.


"We are fully prepared for the war to be resumed. We stand firm in the face of any new aggression, even if it comes to a doomsday war. We don’t care about US midterm elections. We care about our national interests. At the same time, we stand ready for diplomacy. It is up to President Trump to choose," Araghchi told NBC News. Iranian Foreign Minister also said that the rejection had not been formally communicated to Tehran through diplomatic channels.

Bezalel Smotrich, Israel's far-right finance minister, has called for the annexation of areas of south Lebanon and the Gaza Strip. These areas are currently under Israeli military control. He also asked the Israeli forces to "go to war" against Palestinians in the occupied West Bank.

In a podcast for Israeli news site Ynet, Smotrich said, "I would like us to annex at least as far as the Yellow Line in Gaza (which demarcates the areas under Hamas and Israeli control) and as far as the Litani River in Lebanon... because if a war ends along the same lines where it began, what will deter the enemy from going to war again."

"I think we need to go to war in Judea and Samaria, to dismantle the Palestinian Authority that supports terror," he added.