Iran ceasefire proposal ‘significant’ but ‘not good enough’ 

Finance

Iran ceasefire proposal ‘significant’ but ‘not good enough’

US President Donald Trump said that the latest proposal for a US ceasefire with Iran is “not good enough,” ahead of his deadline for Iran to either reopen the Strait of Hormuz or face major attacks on its civilian infrastructure, CNBC reported on Monday.

During a press conference at the White House, Trump reiterated his threats to attack Irans energy and transportation infrastructure Tuesday at 8 p.m. ET if the strait is not reopened.

Iran rejected the proposal and called for a permanent end to the war, according to Iranian state-run media.

The spokesperson for Iran‘s top joint military command has called Trump’s threats “delusional,” adding that the threats will not make up for the “disgrace and humiliation” of the US in the region.

Market reaction

At the time of press, the WTI price is down 0.21% on the day at $103.65.