US-Iran war LIVE: Trump rejects Iran's ceasefire proposal, expects renewed bombing after US midterms — Report

US-Iran war LIVE: US President Donald Trump on Friday (local time) rejected Iran's proposal for a seven-day ceasefire and informed close aides that he expects Washington to resume bombings after the US midterms scheduled for 3 November, the Wall Street Journal reported, citing US officials. According to the report, Tehran's proposal would have reopened the Strait of Hormuz, along with the resumption of nuclear talks in return for Washington lifting its blockade of Iranian ports, which is reportedly causing serious damage to the Islamic Republic's economy.

According to Trump, Iran is begging for a deal after the midterms that destroys its nuclear program.Reopening of Hormuz to begin after US accepts ceasefire proposal: Abbas AraghchiIran's Foreign Minister Abbas Araghchi on Friday said the timeline for reopening the Strait of Hormuz will begin once the US accepts Tehran's proposal of a seven-day ceasefire plan. He said, "If they accept this plan tomorrow, the seven days will start from tomorrow," and added that Washington would need to take certain actions under the plan, which he said could be completed within four to five days.

Araghchi added that if the US fulfilled the conditions, the Strait of Hormuz could be reopened on the sixth day, followed by renewed talks between Tehran and Washington on the seventh day.US officials confirm positive talks with Iran via mediatorsA US official on Friday (local time) hinted at positive and constructive discussions with Iran, adding that the two sides continue to discuss nuclear issues.Iran-linked oil tankers seized by navy sailing toward USTwo of the Iran-linked oil supertankers interdicted by American naval forces early in the war are just weeks away from reaching the US, where authorities have pledged to seize the vessels and millions of dollars worth of crude that they’re transporting.

According to Bloomberg, Tifani and Majestic X, both boarded by US forces in the Indian Ocean in April as Trump imposed a blockade aimed at pressuring Iran to end the war, have skirted the coast of Brazil over the past week, according to shipping data. A third interdicted ship was observed heading west into the Atlantic after rounding the Cape of Good Hope.Oil falls as traders weigh US-Iran Hormuz talks progressOil fell on tentative signs that talks between the US and Iran to reopen the world’s most important energy shipping route were progressing.

West Texas Intermediate futures fell about 2.3% to settle near $92 a barrel, notching its first weekly drop since late August, as traders increasingly expect that the negotiations will be productive. The two countries were said to be pushing for a breakthrough that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports.Stay tuned to this LIVE blog for all the latest updates related to the US-Iran war: