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President Donald Trump on May 10-11 dismissed Iran’s response to a U.S. peace proposal as “totally unacceptable,” deepening a diplomatic deadlock that has kept the Strait of Hormuz largely closed and pushed global oil prices sharply higher.
Tehran sent its reply via Pakistani mediators, demanding an immediate end to fighting on all fronts, lifting of U.S. sanctions and the naval blockade, compensation for war damage, recognition of Iranian control over the strait and release of frozen assets.
Within hours Trump posted his rejection on social media.
The stalemate and continued disruptions to shipping pushed Brent above $104-$105 a barrel and U.S. crude near $99-$100, with traders citing a rising geopolitical risk premium and tankers transiting with trackers switched off.
The 10-week conflict, which began Feb. 28, has already paralyzed much traffic through Hormuz — a chokepoint that normally handles about one-fifth of the world’s oil and LNG — and has prompted limited allied moves such as a planned UK security deployment.
Trump is due to meet Chinese President Xi Jinping this week, with hopes he will press Beijing to influence Tehran.






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