00:00Tonight, the entire world is watching one stretch of water and one decision.
00:04President Trump is waiting on Iran's response to a U.S. proposal that would end the war
00:10and reopen the Strait of Hormuz. Brent crude pulled back to just over $100 a barrel.
00:15U.S. oil settled at $94.81. But the calm is fragile.
00:21Iran's expediency council member, Mohsen Rezaeh, has just told state media
00:26the United States must pay reparations for damage done to Iran.
00:31That position alone could collapse the deal. The Strait carries roughly one-fifth of the world's
00:36daily oil. American consumers have already seen gas prices climb at the pump.
00:41And analysts warn another spike of 5% or more could come overnight.
00:45U.S. military forces remain on station at Project Freedom,
00:49the operation guiding commercial shipping through the Strait.
00:52And if Iran rejects the proposal, every American filling up at a gas station this week will feel it.
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