US President Donald Trump said on Monday that the ceasefire with Iran was “on life support” after Tehran’s response to a US proposal to end the war made clear the two sides remain far apart, as Brent crude rose 3% to more than $104 a barrel with the Strait of Hormuz still largely closed, Ada Derana reported citing Reuters.
“I would call it the weakest right now, after reading that piece of garbage they sent us. I didn’t even finish reading it,” Trump said, threatening once again to end the ceasefire that has been in place since 7 April. Iran has demanded an end to fighting on all fronts including Lebanon, war-damage compensation, an end to the US naval blockade, guarantees against further attacks, and the resumption of Iranian oil sales, while reiterating its sovereignty over the Strait of Hormuz.
Iran Foreign Ministry spokesperson Esmaeil Baghaei said Tehran’s demand was legitimate, while parliament speaker Mohammad Baqer Qalibaf warned Iran’s armed forces were ready to respond decisively to any “act of aggression”. The United States on Monday imposed new sanctions on individuals and companies it said were helping Iran ship oil to China and warned banks about attempts to evade existing curbs.
Traffic through the Strait of Hormuz is at a trickle, with shipping data from Kpler and LSEG showing three crude tankers exited the waterway last week with their transponders switched off to avoid Iranian attack. A second Qatari LNG tanker was attempting to transit under an arrangement involving Iran and Pakistan. OPEC output fell further in April to its lowest in more than two decades, a Reuters survey showed.
The diplomatic deadlock is testing both the Pakistan-mediated US-Iran negotiations and global energy markets. NATO allies have refused to send ships to reopen the strait without a full peace deal, while Reuters/Ipsos polling showed 66% of Americans believe Trump has not clearly explained the goals of US military involvement. With oil hovering above $104 a barrel, Sri Lanka’s CPC import costs and the Hormuz fertiliser hunger warning remain under acute pressure.
