Trump knocks back Iran's offer to reopen the Strait of Hormuz and delay nuclear talks

Iran said Trump has rejected a proposal that would reopen the Strait of Hormuz, end the US blockade on ships linked to Iranian ports, and delay nuclear talks until a later round.

A senior Iranian official allegedly said Saturday that Tehran saw the offer as a way to stop the war first, then handle the nuclear file after shipping lanes and attack guarantees were settled.

The war remains stuck four weeks after the United States and Israel paused their bombing campaign against Iran. No deal has ended the conflict. Energy flows have taken a historic hit.

Iran moves nuclear talks to the final stage as Trump rejects the latest war proposal

Trump said Friday he was “not satisfied” with Tehran’s offer. He did not list every objection, but told reporters at the White House, “They’re asking for things that I can’t agree to.”

Before leaving for Florida, Trump also reportedly told CNN he was unhappy with the proposal aimed at ending the war.

At a West Palm Beach event Friday evening, Trump questioned whether the US would be “better off” without a deal with Iran. He also called a law limiting the use of force without congressional approval “totally unconstitutional.”

Still, in a letter to congressional leaders, he said war “hostilities” with Iran had “terminated.”

Washington says the war cannot end unless Iran is blocked from ever getting a nuclear weapon. Trump cited that goal when he launched strikes in February while nuclear talks were underway. Iran says its nuclear program is peaceful.

The Iranian official, speaking anonymously because the diplomacy is confidential, said Tehran had made a major shift by putting nuclear talks later.

Under the proposal, the war would end with a guarantee that the United States and Israel would not attack again. Iran would open Hormuz, and Washington would lift its blockade.

Future talks would cover curbs on Iran’s nuclear program in return for sanctions relief. Tehran would demand that Washington recognize its right to enrich uranium for peaceful purposes, even if it agrees to suspend that work.

“Under this framework, negotiations over the more complicated nuclear issue have been moved to the final stage to create a more conducive atmosphere,” the official said.

Hormuz traffic collapses as oil executives warn that the supply shock is not over

The Gulf energy freeze is getting worse as stored oil and gas are drawn down. Industry executives and analysts say the damage will deepen in coming weeks. Kpler said supply fell from about 20 million barrels per day before the conflict and the Hormuz closure to close to 1 million barrels per day in April.

Kpler said, “While a gradual recovery may begin from June, the rebalancing is incomplete, leaving the global oil market tighter and increasingly reliant on inventories and demand adjustment.”

So the market is leaning on stockpiles and weaker demand, which is not exactly a calm setup for oil, inflation, or crypto risk appetite.

Analysts say that the buffer is now thin. The US Energy Information Administration said gasoline stocks fell to 222 million barrels on April 24, the lowest level for this time of year in more than a decade. In recent days, Kpler and other shipping data sources counted only a handful of Hormuz crossings.

The UK Navy said Friday that “Hormuz traffic has collapsed by 90% since conflict began, with fewer than 10 ships a day now transiting the strait.” It also said about 20,000 sailors are stranded on vessels in the Gulf.

Meanwhile, Israel issued an urgent evacuation warning for parts of southern Lebanon during a fragile ceasefire. Lebanon’s health ministry said Israeli strikes killed at least nine people on Friday.

NATO said it is working with Washington to “understand” the announced withdrawal of about 5,000 US troops from Germany, and Berlin’s defense minister said the move was “anticipated.”

A Washington Post/ABC News/Ipsos poll released Saturday found six in ten Americans think the US use of force against Iran was a mistake.

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