Where things stand with gas prices and the Strait of Hormuz
The U.S. has responded to an Iranian proposal regarding a ceasefire and the reopening of the Strait of Hormuz, following President Trump's rejection of the initial plan.
Iranian authorities say they received a formal response from the U.S. on their proposal for a ceasefire and the phased reopening of the Strait of Hormuz, days after President Trump said he rejected their plan. Columbia University Center on Global Energy Policy senior fellow Daniel Sternoff has more details on where things stand.
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