U.S. peace proposal

May 11, 2026 1:50 PM

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

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 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. Tehran also included a dema...

May 7, 2026 4:22 PM

US and Iran inch towards short-term deal to end fighting

The United States and Iran are edging toward a limited, temporary agreement to halt their war, sources and officials said on Thursday, with a draft framework that would stop the fighting but leave the most contentious issues unresolved. The emerging plan centres on a short-term memorandum rather than a comprehensive peace deal, underscoring deep divisions between the two sides and signalling that any agreement at this stage would be an interim step. Hopes that even a partial deal could lead to...

May 7, 2026 9:12 AM

Iran reviewing US proposal to end war, though key demands remain unaddressed

Iran said on Wednesday it was reviewing a U.S. peace proposal that sources said would formally end the war while leaving unresolved the key U.S. demands that Iran suspend its nuclear program and reopen the Strait of Hormuz. An Iranian foreign ministry spokesperson cited by Iran's ISNA news agency said Tehran would convey its response. U.S. President Donald Trump said he believed Iran wanted an agreement. "They want to make a deal. We've had very good talks over the last 24 hours, and it's very...