Strait of Tension: Iranian Ceasefire Stalled Amid U.S. Proposals

Hopes for a peace deal with Iran appeared bleak on Tuesday as President Donald Trump declared a proposed ceasefire 'on life support.' Tehran rejected the U.S. offer, adhering to a series of demands Trump dismissed as 'garbage.'

Key demands from Iran included an end to hostilities on all fronts and recognition of its sovereignty over the Strait of Hormuz, vital for global oil shipments. Trump's remarks come as tensions remain high, endangering the fragile ceasefire status initially declared on April 7.

The standoff has left global oil markets jittery, with Brent crude oil jumping to almost $108 a barrel as the Strait of Hormuz, a central chokepoint, remains largely closed. Efforts by the U.S. to secure broader international support in resolving the crisis have been largely unsuccessful.

(With inputs from agencies.)