By Nayera Abdallah, Elwely Elwelly and Idrees Ali DUBAI/WASHINGTON, May 11 (Reuters) - President Donald Trump's swift rejection of Iran's response to a U.S. peace proposal pushed oil prices higher on Monday,

U.S. President Donald Trump on Monday said the Iran ceasefire is on “life support” after rejecting Tehran’s latest proposal, which officials said included some nuclear concessions. Trump also proposed suspending the federal gas tax to help

The United States and Iran have signalled they will hold a new round of ceasefire talks in Pakistan, two regional officials said Tuesday, as leaders on both sides warned they were prepared for more fighting if a fragile two-week truce expires without a deal.

Trump appears keen to reach a deal to end the war, which is unpopular with Americans, as he deploys both pressure and diplomacy, analysts say.

The violence jeopardised the fragile truce between Iran and the US while the two sides considered a deal to end the fighting

As President Trump again voices optimism that Iran will "make a deal" to end the war, Tehran declares itself the regulator of Strait of Hormuz shipping.

U.S. markets hovered near all-time highs Monday and oil rose more than 2% after President Donald Trump appeared to dismiss Iran's response to a U.S. peace plan. Futures for the S&P 500 were essentially unchanged,

Trump will return to China for a summit with Chinese President Xi Jinping at which the two leaders are expected to discuss tariffs, the Iran war and China’s claim to