US-Iran stalemate lifts oil prices amid Strait of Hormuz closure
Key takeaways
- Days after Washington floated a proposal aimed at reopening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Hezbollah.
- Within hours, Trump dismissed Tehran’s offer in a social media post.
- “I don’t like it — TOTALLY UNACCEPTABLE,” Trump wrote on Truth Social, without giving further detail.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize DUBAI/WASHINGTON, May 11: President Donald Trump’s swift rejection of Iran’s response to a US peace proposal has fuelled concerns that the 10-week-old conflict will drag on and continue to paralyse shipping through the Strait of Hormuz, pushing oil prices higher on Monday.
Days after Washington floated a proposal aimed at reopening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Hezbollah.
Tehran also demanded compensation for war damage, emphasised its sovereignty over the Strait of Hormuz, and called on the United States to end its naval blockade, guarantee no further attacks, lift sanctions and remove a ban on Iranian oil sales.