{"id":636239,"date":"2026-05-11T08:47:12","date_gmt":"2026-05-11T08:47:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/636239\/"},"modified":"2026-05-11T08:47:12","modified_gmt":"2026-05-11T08:47:12","slug":"live-updates-iran-counterproposal-includes-recognition-of-sovereignty-over-hormuz-state-media-says","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/636239\/","title":{"rendered":"Live updates: Iran counterproposal includes recognition of sovereignty over Hormuz, state media says"},"content":{"rendered":"

\"A<\/p>\n

\n Oil prices are rising today, after US President Donald Trump dismissed Iran\u2019s latest terms to end the war, sparking fears of a fresh escalation in the conflict that would keep the vital Strait of Hormuz shuttered for even longer.\n <\/p>\n

\n Brent crude, the global oil benchmark, was up 2.9% to $104.2 a barrel. WTI, the US benchmark, rose 2.4% to $97.7 a barrel.\n <\/p>\n

\n Trump said Iran\u2019s latest peace proposal was \u201ctotally unacceptable,\u201d in a Truth Social post Sunday. Tehran wants its sovereignty over the Strait of Hormuz recognized and has also demanded compensation for war damages, according to Iranian state media<\/a>.\n <\/p>\n

\n Trumps\u2019 comments \u201cnudge in the direction of re-escalation \u2013 potentially more shooting \u2013 but I\u2019d think there is going to be a fresh olive branch,\u201d Neil Wilson, a strategist at Saxo bank wrote in a note.\n <\/p>\n

\n Crude prices are up around 45%, or some $30 a barrel, since the war started, blockading a waterway that is ordinarily a conduit for around a fifth of the world\u2019s global oil and natural gas supply.\n <\/p>\n

\n While some producers, including Saudi Arabia and the United Arab Emirates, have found alternative routes for their exports, around 10-12 million barrels of crude remain choked off from global markets per day, according to analysts.\n <\/p>\n

\n \u201cWe still think that we are moving towards a deal, but both parties want to have an upper hand in negotiations,\u201d chief European economist at Jefferies, Mohit Kumar wrote in a note. \u201cThe longer the Strait of Hormuz remains closed, the more negative it is for the global economy.\u201d\n <\/p>\n","protected":false},"excerpt":{"rendered":"Oil prices are rising today, after US President Donald Trump dismissed Iran\u2019s latest terms to end the war,…\n","protected":false},"author":2,"featured_media":636240,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[23,29430,100016,3,21,19,22,20,25,24],"class_list":["post-636239","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-america","tag-hnk","tag-intl","tag-news","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/636239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=636239"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/636239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/636240"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=636239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=636239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=636239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}