US President Donald Trump on Sunday rejected Iran’s response to a US peace proposal as “totally unacceptable,” dealing a fresh blow to efforts to end the conflict and raising the risk of renewed instability in the Gulf, where shipping through the Strait of Hormuz remains severely disrupted.
Iran has formally presented to Pakistani mediators its response to the latest US proposal aimed at ending the war, a source familiar with the matter confirmed on Sunday.
Oil prices extended their rally on Friday as geopolitical tensions around Strait of Hormuz remained unresolved, with both Iran and the United States showing no signs of de-escalation.
US President Donald Trump has hailed the ceasefire agreement between the US and Iran as a big day for world peace and said there is an opportunity to make big money.
US President Donald Trump said he had agreed to a two-week ceasefire with Iran on Tuesday on the condition that Iran agrees to reopen the critical Strait of Hormuz, while Iran’s supreme leader has instructed all military units to stop firing.
Time is rapidly running out for Donald Trump’s ultimatum to Iran, with the American president warning that Tehran faces devastating consequences if it fails to reopen the Strait of Hormuz before his deadline of 8:00 p.m. EDT Tuesday (00:00 GMT Wednesday).
Danube Group Chairman Rizwan Sajan has assured the company’s 6,000+ workforce that there will be no layoffs and salaries will be paid on time despite the geopolitical uncertainty the region is facing now.
Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place.
US President Donald Trump on Thursday warned the US military will destroy bridges and electric power plants in Iran, even as the world awaited an end to the conflict.
Oil prices could rise to $120–$130 a barrel in the near term, with a risk of climbing above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, according to a JP Morgan note cited by Reuters.
