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#IranRejectsUSPeacePlan What happened today* *The breakdown*: Iran formally rejected the latest US peace proposal on May 10-11, 2026. Trump called it "TOTALLY UNACCEPTABLE" on Truth Social. *Key Points* *1. US Proposal* - 1-page, 14-point memo via Pakistani mediators - Demanded: End fighting, reopen Strait of Hormuz, roll back Iran's nuclear program - Offered: Sanctions relief, unfreeze assets, lift oil ban . *2. Iran's Counter* - *Demands*: War reparations, full sovereignty over Strait of Hormuz, end sanctions, release seized assets - *Nuclear*: Agreed to suspend enrichment but not 20 years, transfer some enriched uranium abroad - *Strait*: Gradual reopening as US lifts blockade - *Ceasefire*: End war on all fronts, especially Lebanon . *3. Trump's Response* - "I have just read the response... I don't like it — TOTALLY UNACCEPTABLE!" - Accused Tehran of "playing games" for 50 years . *4. Market Impact* - Oil jumped $3/barrel: Brent $104.47, WTI $98.51 - Strait of Hormuz still largely closed, choking 20% of global oil - 10-week US-Iran war started Feb 28, 2026 *5. Sticking Points* - *US*: Wants nuclear dismantlement + ceasefire first - *Iran*: Calls US plan "surrender", wants reparations + sovereignty guarantees - *Hormuz*: Iran threatens "decisive response" to British/French warships . *Bottom line*: Talks stalled. Iran won't discuss nukes without Hormuz/sanctions deal. US won't lift blockade without nuclear concessions. Oil markets bracing for extended disruption.