President Donald Trump rejected Iran's conditional proposal to reopen the Strait of Hormuz and told aides he's planning to resume bombing the country after November's midterm elections, The Wall Street Journal reported Saturday, citing unnamed U.S. officials. The decision extends a conflict that's already sent global oil prices soaring and threatens millions of people who depend on energy shipments through the strategically vital waterway.
Trump confirmed the rejection when speaking with reporters. "They made a proposal but I rejected it," he said.
Iran's Conditions for Peace
Iranian Foreign Minister Abbas Araghchi proposed on Friday reopening the strait and resuming nuclear talks with the U.S. within seven days if the Trump administration accepts Iran's conditions. "If certain conditions are met, the Strait of Hormuz will be open at the end of seven days, and talks will be restarted," Araghchi told reporters on the sidelines of the United Nations General Assembly in New York.
Tehran's conditions include a halt to what it calls U.S. "acts of aggression," an end to the naval blockade and economic warfare, and the release of Iranian assets, Iranian foreign ministry spokesman Esmaeil Baghaei said this week. These demands reflect Iran's position that the current crisis stems from American military and economic pressure, not Iranian aggression.
Trump said earlier this month that he expects the war, which began on Feb. 28 with U.S. and Israeli airstrikes on Iran, to end shortly after the midterms and for oil prices to fall afterward. But privately, Trump's skeptical Iran would meet his demands and has told his staff that he sees a renewed bombing campaign as likely, the WSJ quoted officials as saying.
Diplomatic Efforts Continue Despite Rejection
CNBC said it couldn't immediately confirm the report. The Journal quoted a U.S. official as saying Washington and Tehran were still negotiating through mediators, including over U.S. demands intended to prevent Iran from developing a nuclear weapon. The reliance on indirect negotiations underscores how deeply relations between the two nations have deteriorated.
Meanwhile, Yemen's Saudi-led coalition forces said they intercepted projectiles fired by Iran-backed Houthi rebels. The Saudi-backed Coalition to Support Legitimacy in Yemen "intercepted and destroyed" two drones launched by Houthi militia towards the Saudi capital Riyadh, and two ballistic missiles aimed at the Khamis Mushait region near the city of Abha in the country's southwest, Colonel Turki Al-Maliki, the coalition's official spokesman, said in a series of posts on X.
Regional Escalation Threatens Civilians
The Houthis said last Saturday that they'd attacked "sensitive" sites in Riyadh shortly after flames and smoke were seen near the city's main airport. Saudi Arabia said earlier this month that its air defenses destroyed a Houthi drone headed for the holy city of Mecca, a claim the group denied. These attacks put civilian populations at direct risk, with targeting near airports and religious sites raising alarm among human rights observers.
Economic Impact Hits Working Families
The war has severely restricted energy shipments out of the Middle East, sending oil prices soaring and raising concerns about accelerating inflation globally. Working families worldwide are bearing the cost through higher gas prices and increased costs for goods that depend on petroleum-based transportation.
But crude prices posted a sharp drop for the week as Tehran and Washington held discussions on the sidelines of the U.N. General Assembly. West Texas Intermediate dropped 2.3% to close at $92.41 per barrel. Brent, the international benchmark, declined 2.1% to settle at $104.32. U.S. crude finished the week 7.9% lower while Brent was flat. WTI is up nearly 61% year to date, while Brent crude is more than 71% higher over the same period. These figures show how diplomatic engagement, even preliminary talks, can provide relief to consumers struggling with energy costs.
Why This Matters:
Trump's rejection of Iran's ceasefire proposal and his stated intention to resume bombing after the midterms means the conflict will continue to impose severe costs on ordinary people both in the region and globally. The war has already disrupted critical energy supplies through the Strait of Hormuz, driving oil prices up more than 61% this year and fueling inflation that hits working families hardest through higher costs for gas, food, and consumer goods. The brief price drop this week when diplomatic talks occurred demonstrates that negotiated solutions could provide real economic relief to millions struggling with rising costs. Meanwhile, regional escalation involving Houthi attacks near civilian areas in Saudi Arabia shows how military confrontation spreads instability and puts innocent lives at risk. The decision to prioritize bombing over sustained diplomatic engagement through international institutions like the U.N. raises questions about whether military action serves long-term security and economic stability, or whether it perpetuates a cycle that ordinary people pay for while political leaders remain insulated from the consequences.