U.S., Iran Await Response on Peace Proposal as Clashes Escalate in Hormuz

The United States and Iran are awaiting Iran's response to the U.S. peace proposal amid escalating clashes in the Strait of Hormuz. The U.S. is attempting to balance military deterrence with the possibility of negotiations, while President Trump stated that Iran has effectively accepted the administration's core demand regarding nuclear weapons. Oil markets are showing relative stability as investors weigh the military confrontation against signs of potential diplomatic progress.