Donald Trump cast doubt on the U.S.-Iran ceasefire after Tehran delivered what he called an unacceptable response to Washington’s proposal to end the conflict, saying the truce was on “massive life support”.
The failed push for terms to end the war kept the Strait of Hormuz in focus. U.S. crude rose to around $96 as the near-halt of traffic through the energy chokepoint renewed concerns about more energy disruptions and a spike in inflation.
Markets kept moving
Stocks did not break on the latest ceasefire warning. Asian gauges in Japan, South Korea and Australia advanced, while the MSCI Asia Pacific Index rose 0.3% after Wall Street benchmarks edged up to a record close and the Philadelphia Semiconductor Index jumped 2.6% to an all-time high.
The Monday U.S. close showed the same split between geopolitics and equities: the S&P 500 gained 0.19% to 7,412.84, the Nasdaq Composite rose 0.1% to 26,274.13, and both closed at records even as oil prices rose after Trump rejected Iran’s latest proposal.
The bottleneck. The Strait of Hormuz remains the concrete risk in the story. The ceasefire is still fragile, no peace deal has been reached, and oil is already near $96 with traffic through the chokepoint close to halted.
