RE: High oil price is here to stay!10 May 2026 21:44
not looking good tonight!
the situation has escalated significantly in the last few hours. president trump has just officially rejected iran’s response, calling it "totally unacceptable" in a social media post at roughly 21:00 gmt.
al jazeera
breaking developments (last 1–3 hours)
trump’s "unacceptable" verdict: after reviewing the proposal delivered via ****stan, trump posted on truth social: "i have just read the response from iran's so-called 'representatives.' i don't like it — totally unacceptable!".
sticking points: while the full text hasn't been leaked, reports suggest iran focused on a "cessation of hostilities" but refused to dismantle nuclear facilities or uranium stockpiles, which is a "red line" for the u.s. and israel.
direct military threats: following the rejection, iran's deputy foreign minister warned that any deployment of british or french warships in the strait of hormuz would be met with an "immediate and decisive response".
hostile drone activity: the uae and kuwait both reported intercepting "hostile drones" launched from iran earlier tonight.
sky news
+5
immediate impact on markets
oil price warning: with the peace deal seemingly collapsing tonight, traders are bracing for a major spike when asian markets open. analysts suggest brent crude could test $115–$120 if military action resumes tomorrow.