Trump says US-Iran ceasefire is on ‘massive life support’, as oil prices continue to rise

US president Donald Trump says the ceasefire with Iran is “on massive life support” He pointed to disagreements over several Iranian demands, such as the cessation of hostilities on all fronts, the removal of a US naval blockade and compensation for war damage Trump called the Iranian demands “totally unacceptable” and a “piece of garbage” Iranian parliamentary speaker Mohammad Ghalibaf said on X that its armed forces were, “ready to respond and to teach a lesson for any aggression” Oil prices continued to rise on Tuesday as hopes for a swift end to the 10-week war receded Oil prices are around 50 per cent higher following the US and Israel’s attacks on Iran, largely due to shipping in the Strait of Hormuz being paralysed House building slowed sharply in Ireland in April due to uncertainty triggered by the Middle East conflict Trump is expected in Beijing on Wednesday and is set to ask China to use its influence to push Iran to make a deal Key Reads Irish house building slows as Middle East conflict hits construction Airlines cut prices to entice tourists worried about fuel shortages David McWilliams: Iran war is an hostage situation - with UAE the hostage John FitzGerald: How high can oil prices go? Jade Wilson - 21 minutes ago Traffic through the Strait of Hormuz is at a trickle compared with before the war. Shipping data on Kpler and LSEG showed that three tankers laden with crude exited the waterway last week, with trackers switched off to avoid an Iranian attack. A second Qatari LNG tanker was attempting to transit the strait, the data showed, days after the first such cargo crossed under an arrangement involving Iran and Pakistan. In the US, surveys show the war is unpopular with US voters who are paying more for fuel less than six months before nationwide elections that will determine whether Trump’s Republican Party retains control of Congress. Two out of three Americans, including one in three Republicans and ‌almost all Democrats, think Trump has ‌not clearly explained why the country has gone to war, according to a Reuters/Ipsos poll completed on Monday. Washington has also struggled to build international support, with NATO allies refusing to send ships to reopen the waterway without a full peace deal and an internationally ‌mandated mission. In separate statements on Monday, the state department said US secretary of state Marco Rubio held separate calls with his Australian and British counterparts to discuss “ongoing efforts to restore freedom of navigation in ​the Strait of Hormuz.” It did not elaborate. Hakan Fidan, the foreign minister of Turkey, which has been liaising ​closely with the US, Iran and mediator Pakistan since the start of the war, will hold talks in Qatar on Tuesday on the conflict and on ensuring navigational safety in the strait, a Turkish diplomatic source said. - Reuters Jade Wilson - 38 minutes ago Hopes for a peace deal on Iran faded on Tuesday after Donald Trump said a ceasefire with ‌Iran was “on life support” as Tehran rejected a US proposal to end the conflict and stuck to a list of demands the US president described as “garbage”. Iran has called for an end ​to the war on all fronts, including Lebanon, where US ally Israel is fighting Iran-backed Hezbollah militants. Tehran also emphasized its sovereignty over the Strait of Hormuz, demanded compensation for war damage, and an end to the US naval blockade, among other conditions. Trump said Iran’s response threatened the status of a ceasefire that began on April 7th. “I would call it the weakest right now, ​after reading that piece of garbage they sent us. I didn’t even finish reading it,” Trump, who has repeatedly threatened to end the ceasefire, told reporters. The US had proposed an end to fighting ‌before starting talks on more contentious issues, including Iran’s nuclear program. Brent crude oil futures extended gains in early Asian trade on Tuesday, climbing above $104.50 ‌a ‌barrel, ​as the deadlock left the Strait of Hormuz largely closed. Before the war began on February 28th, the narrow waterway carried one-fifth of the world’s oil and liquefied natural gas shipments, and has since become a central pressure point in ‌the conflict. Disruption caused by the near-closure of the strait has forced ‌oil producers to cut exports, and OPEC oil output dropped further in April ‌to the lowest in more than two decades, a Reuters survey showed on Monday. The United States on Monday imposed new sanctions on individuals and companies it said ‌were helping Iran ship oil to China, part of efforts ‌to cut off funding for Tehran’s military and nuclear programs, while also warning banks about attempts to evade existing curbs. Trump is expected to arrive ‌in Beijing on Wednesday, where Iran is set to be among ‌the topics discussed with Chinese president Xi ‌Jinping. - Reuters