Trump says Iran ceasefire is 'on life support' after dismissing Tehran's counteroffer as 'garbage'

Oil prices surged above $104 a barrel after President Donald Trump dismissed Iran's counteroffer to a U.S. proposal aimed at ending the war. Trump characterized the Iranian response as "garbage" and stated that the ceasefire is now "on life support." The remarks mark a significant escalation in tensions between the two nations, with diplomatic efforts appearing to stall. The U.S. proposal, details of which remain undisclosed, was intended to de-escalate ongoing hostilities. Iran's counteroffer was reportedly rejected outright by the Trump administration. The rise in oil prices reflects market anxiety over potential supply disruptions in the Middle East. No further negotiations have been announced.