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US President Donald Trump's rejection of Iran's response to a US peace proposal sent oil prices higher on May 11 amid concerns the 10-week-old US-Israel war against Iran will drag on, keeping shipping through the Strait of Hormuz paralysed.

Tehran defended that its proposal was "generous and reasonable”.

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00:01The U.S. White House's rejection of Iran's response to a U.S. peace proposal sent oil
00:06prices higher on Monday amid concerns the 10-week-old conflict in Iran will drag on,
00:12keeping shipping through the Strait of Hormuz paralyzed.
00:15Days after the U.S. floated an offer in the hopes of reopening negotiations, the Iranian
00:21regime sent its response via the Pakistani mediator over the weekend, focused on ending
00:26the war on all fronts, especially Lebanon, where U.S. ally Israel is fighting Iran-backed
00:33Hezbollah.
00:34Iranian media reported that Tehran also included a demand for compensation for war damage and
00:40emphasized Iranian sovereignty over the Strait.
00:43They also called on the U.S. to end its naval blockade, guarantee no further attacks, lift
00:49sanctions and end the U.S. ban on Iranian oil sales.
00:52On Sunday, U.S. President Donald Trump said Iran has been playing games with the United
00:57States and the rest of the world for 47 years, and he added that he did not like the counter
01:03-proposal,
01:04which he said was totally unacceptable.
01:06Reports said it did not appear to include contentious issues like Iran abandoning its nuclear weapon
01:12program, and the U.S. would possibly resume Project Freedom to guide and protect some 2,000 ships stranded
01:19in the strait out of the area, with the exception of ships from Iranian ports.
01:24The Iranian Foreign Ministry said on Monday it believed what they offer is generous and reasonable.
01:29We don't have any questions.
01:34The only thing we have asked was the law of Iran's law.
01:40I would like to ask you and the people of mine to the U.S. to the U.S.
01:55that
01:56I would like to ask you about them because the U.S.
02:23Thank you very much.
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