Ceasefire falters as U.S., Iran reject compromise terms
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Washington: President Donald Trump on Monday rejected Iran’s written reply to a U.S. peace proposal, calling the document "garbage" and saying the ceasefire was "on life support" after Tehran insisted on lifting a U.S. naval blockade and other conditions. The written exchange followed a ceasefire that began on Apr. 7 amid a regional conflict that started with Feb. 28 bombings.
Officials suspended a short-lived naval escort operation, Project Freedom, for diplomacy earlier this month, while markets reacted: Brent crude climbed above US$107 a barrel on May 12. Tehran demanded immediate ends to fighting across fronts, including in Lebanon, and insisted on sovereignty over the Strait of Hormuz; the U.S. plans continued pressure and said talks would press for verifiable concessions in coming days.
More context
Timeline
- 1. Feb. 28 — U.S. and Israel begin bombing campaign, escalating regional conflict.
- 2. Apr. 7 — A ceasefire between the U.S. and Iran takes effect.
- 3. Early May — Project Freedom naval escorts launched and suspended about 48 hours later.
- 4. Weekend (early May) — Iran submits written response to U.S. peace proposal.
- 5. May 11–12, 2026 — President Trump rejects Iran's reply, says ceasefire is on life support; oil prices rise.
Why it matters
This conflict affects your wallet. Rising tensions mean rising oil prices. Brent crude is already over $107 a barrel. If you drive or heat your home, expect to pay more. Keep an eye on gas prices and budget accordingly.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
