Iran rejects nuclear halt, keeps Hormuz closed

Trump's 14-point peace proposal died yesterday after Iran's counterproposal ignored every nuclear concession the White House demanded. Tehran's response, delivered after a 10-day wait, focused entirely on sanctions relief and war cessation while omitting any commitment to halt uranium enrichment. The Strait of Hormuz remains closed under Iranian control, trapping 20 percent of global oil flows as Trump threatens renewed bombing if talks collapse. Oil traders now face a binary outcome: either a breakthrough by month-end or escalation that could push Brent past $120.