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President Trump has told Iran it must open the Strait of Hormuz by 8 p.m. Tuesday or face the consequences, although he has delayed previous deadlines.
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Oil prices rose again as President Donald Trump stepped up his threats against Iran if Tehran does not come to a deal on the Strait of Hormuz.
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Nations in the region have been keen to reach agreements as their economies are heavily reliant on Middle East energy.
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President Trump has set a deadline of Tuesday night for Iran to make a deal, or face escalated attacks. "The entire country can be taken out in one night," President Trump said, "and that night might be tomorrow night." NBC News' Garrett Haake reports.
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The 45-day ceasefire proposal, which could lead to an end to the war, is reportedly being discussed by the U.S., Iran and a group of regional mediators.
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One potential off-ramp appeared when Iran offered a 10-point counterproposal for ending the war that President Trump called a significant step, if "not good enough."
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As President Trump's deadline for new attacks loomed, Iran conveyed its conditions through Pakistani intermediaries.
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The US president wants Tehran to reopen the Strait of Hormuz, a critical global energy route, before his Tuesday deadline.
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Trump will hold a news conference at the White House, where he's expected to give more details on the rescue of a U.S. airman whose fighter jet was shot down over Iran.
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Ordinary Iranians respond to the US president's threat to destroy Iran's power plants and bridges unless it opens the Strait of Hormuz.
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