Trump Rejects Iran's Ceasefire Offer, Threatens Renewed Strikes After Midterms

President Trump said Saturday he is rejecting an Iranian proposal for a week-long ceasefire that Tehran had offered to reopen the Strait of Hormuz and start peace talks. Reports indicate he intends to resume bombing after the U.S. midterm elections rather than accept the current terms. The conflict, now in its seventh month, has kept the Hormuz waterway — a route for a large share of the world's seaborne oil — closed to normal traffic. Syria has responded by opening an overland fuel transit route to Iraq to move gasoline imports around the blockage, according to a separate report citing The Cradle. What remains unresolved is how long the closure persists and whether other Gulf producers face similar disruption. Energy markets and shipping routes tied to the Strait remain the most direct channel through which this standoff could affect prices well beyond the immediate region.