Iran rejected a U.S.-backed two‑tier cease‑fire proposal, demanding permanent peace, sanctions lift, and compensation.
President Trump warned Iran could be “taken out” in one night and lose power plants and bridges if no deal by Tuesday.
Israel struck Iran’s South Pars and Mahshahr petrochemical plants, affecting up to 85% of Iran’s petrochemical exports and half of domestic production.
Oil prices dipped but remain elevated as markets fear closure of the Strait of Hormuz, which carries about 20% of global oil.