Satellite view of the Salalah oil storage fire in Oman. An Iranian drone strike on March 11 ignited the blaze, sending a plume over the Gulf of Oman’s strategic port amid the wider conflict with Iran. Imaged March 13, 2026.

Gallo Images | Orbital Horizon | Copernicus Sentinel Data 2026 | Getty Images

Oil prices rose Tuesday as U.S. President Donald Trump said that the ceasefire with Iran was on life support after rejecting Tehran's counterproposal to end the war, signaling the conflict in the Middle East could drag on.

International benchmark Brent crude futures for July gained 0.30% to $104.51 a barrel. U.S.…