A senior Iranian military official has said renewed conflict with the US is “possible” after Donald Trump rejected the latest peace proposal from Tehran.

Fuel prices across the United States have jumped sharply following an escalation in the conflict between the US and Iran, which has sent global crude oil prices soaring.

Russian President Vladimir Putin and U.S. President Donald Trump held a 90-minute phone conversation, which the Kremlin described as "friendly and businesslike."

A senior Pentagon official testified before a House committee on Wednesday, stating that the U.S. has spent about $25 billion on the war against Iran.

German Chancellor Friedrich Merz criticized Washington on Monday, accusing the Trump administration of being manipulated and "humiliated" by Tehran's regime while lacking a clear strategy to resolve the conflict.

German Chancellor Friedrich Merz on Saturday criticized the military conflict against Iran led by the United States and Israel, describing it as a "completely unnecessary war" that threatens the very foundations of the global economy.

Protests have swept the globe since the start of the war, with hundreds of protests both in favor of and against the conflict.

On Monday, OPEC revised its forecast for global oil demand in the second quarter, cutting it by 500,000 barrels per day, according to the group's monthly oil report. This was the first public assessment of the war in Iran’s impact on the market.

The United States reported a higher budget deficit in March, as increased tax refunds and relief payments outweighed modest gains in revenue, according to the U.S. Department of the Treasury.

Ali Vaez, Director of the Iran Project at International Crisis Group, has warned that negotiations between the United States and Iran are starting from a deeply negative level of trust, making any diplomatic breakthrough extremely difficult.
According to Vaez, Iran has at least three major reasons for mistrust.