A 3D-printed miniature model depicting U.S. President Donald Trump and a map showing the Strait of Hormuz, also known as Madiq Hurmuz, are seen in this illustration taken March 26, 2026. REUTERS\/Dado Ruvic\/Illustration<\/p>\n
Trump to Address Iran Proposal \u2018Soon\u2019 as Oil Rises Further<\/p>\n
By\u00a0Arsalan Shahla and Eltaf Najafizada<\/p>\n
Apr 28, 2026 (Bloomberg) \u2013US President Donald Trump convened his national security team to discuss Iran\u2019s proposal to end a war now in its third month and which has left thousands dead across the Middle East, as well as disrupted energy supplies.<\/p>\n
Trump will address the matter \u201cvery soon,\u201d White House Press Secretary Karoline Leavitt told reporters on Monday. \u201cHis red lines with respect to Iran have been made very, very clear,\u201d she said, adding they included preventing Tehran building a nuclear weapon \u2014 something the country has long-denied wanting to do.<\/p>\n
Iran has signaled it may be willing to accept an interim deal to reopen the Strait of Hormuz in exchange for Washington ending its blockade of Iranian ports, while postponing more complex negotiations over the country\u2019s nuclear program. It is insisting on keeping some control over shipping through the strait, which Washington is unlikely to accept.<\/p>\n
Iranian Oil Tankers Are Clustering Just Shy of US Blockade Line<\/p>\n
The president has told his advisers he\u2019s not satisfied with Iran\u2019s latest suggestions, the New York Times reported, citing multiple unnamed people briefed on the discussions. While it\u2019s unclear why, his administration has previously said any deal must include agreements to curb Iran\u2019s nuclear activities.<\/p>\n
The warring sides agreed to a ceasefire around April 7 and hostilities may resume if they fail to agree to fresh talks.<\/p>\n
Iran\u2019s offer to end the war is \u201cbetter than what we thought they were going to submit,\u201d Secretary of State Marco Rubio said to Fox News. Yet the White House has \u201cquestions about whether the person submitting it had the authority to submit,\u201d he said, echoing previous US claims that Iran\u2019s leaders are divided over their negotiating strategy.<\/p>\n
The strategic Strait of Hormuz, through which a fifth of the world\u2019s oil and liquefied natural gas flowed before the conflict began in late February, remains at a virtual standstill. Brent crude extended its advance on Tuesday, trading 3% higher to over<\/p>\n
, a one-month high on a closing basis.<\/p>\n
Foreign leaders are increasingly frustrated with the diplomatic impasse and the continued closure of the waterway, which has led to fuel rationing across much of Asia and Africa and fears of a global economic slowdown. German Chancellor Friedrich Merz said the US was being \u201c<\/p>\n
\u201d by Iranian leaders and he didn\u2019t see \u201cwhat strategic exit the Americans are now choosing.\u201d<\/p>\n
The first LNG shipment since the war began appears to have<\/p>\n
the waterway to exit the Persian Gulf. The Mubaraz, which loaded a cargo from the United Arab Emirates around early March, is now passing the southern tip of India, according to ship-tracking data. It\u2019s unclear what led to the vessel opting to make the journey.<\/p>\n
Here\u2019s more on the US-Iran talks and Lebanon:<\/p>\n
US Senator Lindsey Graham, a Trump ally, said on X he was skeptical of Iran\u2019s proposal: \u201cClearly, if this offer is accurate, Iran is playing games. Mr. President, stick to your guns for the good of the nation and the world.\u201d<\/p>\n
Iran\u2019s Foreign Minister Abbas Araghchi, on a visit to Russia on Monday, told President Vladimir Putin that Tehran was committed to strengthening the partnership between their nations. Moscow is one of Tehran\u2019s closest partners.<\/p>\n
The ceasefire between Israel and Hezbollah in Lebanon remains shaky, with each side accusing the other of attacks that breach the terms of the agreement. The Israeli military, on Monday afternoon, said it was striking Hezbollah infrastructure sites in the Bekaa valley and across southern Lebanon.<\/p>\n
US Has Questions on Person Who Submitted Iran Offer, Rubio Says<\/p>\n
First LNG Shipment Since Iran War Began Appears to Exit Hormuz<\/p>\n
Can the US and Iran Agree to a Deal to End the War?: Explainer<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg L.P.<\/p>\n