Iran rejected a U.S.-mediated 45‑day cease‑fire proposal, demanding a permanent cease‑fire, sanctions lift, compensation and guarantees on the Strait of Hormuz.
President Trump called Iran’s counter‑proposal insufficient and warned of loss of power plants and bridges if no deal by Tuesday 8 p.m. ET.
Israel struck Iran’s South Pars and Mahshahr petrochemical plants, hitting about 85% of exports; Iran killed IRGC intelligence chief Seyed Majid Khademi.
Oil prices dipped yet stayed elevated as markets feared prolonged Strait of Hormuz closure, which carries about one‑fifth of global oil.