Trump Rejects Iran Peace Proposal, Oil Prices Soar

0:00On May 1st, President Trump is turning down Iran's latest peace proposal after two months of war. The offer came through Pakistani mediators to end the deadlock and reopened the Strait of Hormuz, which carries one-fifth of the world's oil. Trump told reporters he's not sold on it, saying Iran wants a deal, but their leadership is too divided into two or three factions, maybe four. He pointed out, Iran has no military left, and they're asking for stuff he can't agree to. The White House demands Iran halt its nuclear program and hand over enriched uranium. In return, Tehran wants the U.S. to lift economic sanctions and let them control the Strait. Meanwhile, the fighting has hit hard. Iran used speedboats to grab oil tankers and laid sea mines, so Trump slept the naval blockade on their ports. That sparked big reactions worldwide. With everyday folks filling the pinch from skyrocketing gas prices, now at levels not seen since July 20. Oil benchmarks like Brent Crude jumped from around $72 of barrel before the war to

1:04over $126 then dipped. Below 115 is driving of costs for groceries, shipping, and everything that moves. Trump says talks have made some progress since the April 7 ceasefire, but he's doubtful they'll seal a deal soon, especially with his poll. Number slipping amid these high-energy costs.