Oil prices jumped, Brent rose to $104.22 (+2.9%) and WTI to $98.03 (+2.8%) after Trump called the US‑Iran ceasefire "weak".
Trump rejected Iran’s peace response, criticized its lack of nuclear provisions, and floated restarting "Project Freedom" to reopen the Strait of Hormuz.
Trump considered suspending the 18.4¢/gal gasoline and 24.4¢/gal diesel federal tax; legislation by Sen. Josh Hawley requires congressional approval.
EIA forecasts U.S. crude inventories down 1.3 MM bbl for the week ending May 8, with high export flows and SPR draws adding market volatility.