U.S. -Iran Stalemate Lifts Oil Prices as Hormuz Closure Persists

UNITED STATES – U.S. President Donald Trump has rejected Iran’s response to a U.S.-backed peace proposal, raising fears that the 10-week conflict could continue disrupting shipping through the Strait of Hormuz and drive oil prices higher.

Iran’s response called for an end to fighting across the region, including in Lebanon, where Israel is battling Hezbollah militants backed by Tehran.

Iran also demanded compensation for war damage, an end to U.S. naval pressure, sanctions relief, and guarantees against future attacks.

Trump dismissed the proposal on social media within hours.

Tehran defended its position on Monday.