Trump dismisses Iran's reply to peace plan, oil jumps as Hormuz closure persists

[mahatmakanejeeves]

Source: Reuters

Trump dismisses Iran's reply to peace plan, oil jumps as Hormuz closure persists

By Nayera Abdallah, Elwely Elwelly and Idrees Ali
May 10, 2026 9:33 PM EDT Updated 1 hour ago

Summary
* Trump calls Iranian counterproposal 'TOTALLY UNACCEPTABLE'
* Iran demands end to blockade, compensation, and sovereignty over Strait of Hormuz
* US faces domestic, international pressure as energy prices rise
Trump to visit China this week, leaders to discuss Iran

DUBAI/WASHINGTON, May 11 (Reuters) - President Donald Trump's swift rejection of Iran's response to a U.S. peace proposal sent oil prices ​higher on Monday amid concerns the 10-week-old conflict will drag on, keeping shipping through the Strait of Hormuz paralysed.

Days after the U.S. floated an offer in the hopes of ‌re-opening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, especially Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants.

{snip}

Oil prices rose nearly ​3% on Monday on news of the continued deadlock that leaves the Strait of Hormuz largely closed. Before the war began on February 28, the narrow waterway carried one-fifth of the world's oil and liquefied natural gas flows, and has emerged as one of the central pressure points in the war.

Read more: https://www.reuters.com/world/china/trump-rejects-irans-response-us-peace-proposal-unacceptable-2026-05-11/

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Boy, did I make a lot of money by taking a position in the oil market, just fifteen minutes before Trump released his statement, that this is what he would say.

How about you?

[Norrrm]

1. Donald, why are you 'allowing' Iran to block the strait?

Donald, why are you 'allowing' Iran to block the strait?
You and Hegseth both said the military capability of Iran was completely defeated.

??? Rhetorical question? They lied?

[gab13by13]

3. Why is crude oil only $100/barrel?

Why is Krasnov considering temporarily removing the federal gasoline tax? That would amount to a measly 18 cents per gallon.

If I were Krasnov I would cancel my trip to China, Xi is going to eat his lunch. Krasnov goes to China weakened and lost, willing to give away the store to get any help from Xi. China is not about to force Iran to end its blockade of Hormuz.

I expect Krasnov to meet with Xi and then hold a press conference where he tells a fairy tale of what happened.

My fear is that Krasnov will try to buy his way out of this war using our tax dollars.

[gab13by13]

2. There is so much wrong with the headline

It's just right wing talking points IMO.

The 1 page document is not a peace plan, it's a cease fire plan with conditions that neither side will agree to. The document is an agreement for 2 sides to sit down and negotiate a real peace plan.

Oil jumped a measly 2%.

Your summary of the article is spot on, my complaint is only with Reuter's headline.

[bucolic_frolic]

4. Oil volatility is waning, trend is up now. Turn to natural gas and chip fallout.

YouTube traders shorting semi's. SOXS
UNG for gas.

[Bayard]

5. What happened to that little thing about Congressional approval,

After 60 days?

[travelingthrulife]

6. Given that the stock market Pump and Dump scheme is happening every weekend,

one would think the FBI would notice...oh wait...