Iran-US Ceasefire Collapses Amid Hormuz Shipping Crisis

Trump rejected Iran's counterproposal to end the 10-week Middle East war, declaring the ceasefire "on life support." Saudi Aramco reports the world is losing 100 million barrels weekly with the Strait of Hormuz closed, triggering international military responses including Lithuania committing 40 troops to a Hormuz protection mission. Oil prices surged 3-3.67% on the diplomatic breakdown.

Sources

• Trump says ceasefire is on ‘life support’ after rejecting Iran’s proposal Al Jazeera English · Middle East
• Trump says ceasefire on ‘life support’, slams Iran response to US proposal Al Jazeera English · Middle East
• World losing 100 million barrels a week of oil with Hormuz closed, Saudi Aramco chief says Middle East Eye · Middle East
• Lithuania backs Strait of Hormuz mission with just 40 troops Middle East Eye · Middle East
• Asia Intelligence Brief for Monday, May 11, 2026 Rio Times · Brazil

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