Trump rejects 'unacceptable' Iran response to peace plan, oil prices jump [View all]

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

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.

Tehran also included a demand for compensation for war damage and emphasised Iranian sovereignty over the Strait of Hormuz, Iranian state TV said.

It also called on the U.S. to end its naval blockade, guarantee no further attacks, ​lift sanctions and end a U.S. ban on Iranian oil sales, the semi-official Tasnim news agency said.

https://www.yahoo.com/news/articles/trump-rejects-irans-response-us-013848822.html