US President Donald Trump has said the month-long ceasefire between the US and Iran is on "massive life support" and rejected Iran's counter-offer to end the war as "totally unacceptable." Iran's proposal includes an immediate end to the war on all fronts, a halt to the US naval blockade, and guarantees against further attacks.
11 May 2026 · Joy Online →
JP Morgan predicts oil will remain in the "low $100s" for much of the year even if the Strait of Hormuz reopens soon, as supplies would not return to normal service quickly. Brent crude rose above $105 a barrel following tensions between the US and Iran over ceasefire negotiations.
11 May 2026 · Joy Online →
President Donald Trump has dismissed Iran's response to US proposals to end the war as "totally unacceptable". Iran's proposal, sent via Pakistan as mediator, included an immediate end to the war on all fronts, a halt to a US naval blockade, and guarantees of no further attacks on Iran.
11 May 2026 · Joy Online →
Oil prices rose sharply in Asian trading after President Trump dismissed Iran's response to US proposals to end the war as "totally unacceptable." Iran, responding through Pakistan as mediator, called for an immediate end to the conflict and guarantees against further US-Israeli attacks, while Brent crude rose 3.8% to $105.20 a barrel and US crude increased 4% to $99.30.
11 May 2026 · Joy Online →