Trump Rejects Iran Peace Proposal, Warns Ceasefire on 'Life Support'

US President Donald Trump has rejected Iran's latest counteroffer for a peace deal, warning that the ceasefire in the Middle East is on 'life support' with only a one percent chance of survival. The rejection triggered a sharp rise in oil prices and heightened fears regarding the closure of the Strait of Hormuz, a critical global energy conduit. Iranian officials responded defiantly, stating their military is ready to retaliate against any aggression and demanding the release of frozen assets and an end to US blockades. The diplomatic breakdown has exacerbated global energy market chaos, with Saudi Aramco's CEO warning that supply shocks could persist until 2027. Additionally, the UN cautioned that ongoing blockades threaten to push 45 million more people into hunger due to fertilizer shortages. While Iran proposed diluting enriched uranium, the US insisted on complete victory and imposed new sanctions on entities facilitating Iranian oil sales to China. With regional tensions escalating and previous US naval operations facing logistical hurdles, the prospect of a negotiated resolution appears increasingly distant, raising the risk of broader conflict and humanitarian crisis.