This post was republished with permission from Zero Hedge
President Trump is meeting with his national security team Monday to discuss the way forward in the Iran war, including possibly resuming military action, after negotiations with the country deadlocked on Sunday, three U.S. officials told Axios.
U.S. officials say Trump wants a deal to end the war, but Iran’s rejection of many of his demands and refusal to make meaningful concessions on its nuclear program puts the military option back on the table.
This sent oil prices back to the highs of the day…
President Trump also told Fox, that he sees a 1% chance of an Iran deal materializing and succeeding, as even the ceasefire is one of “the weakest, on life support“:
President Donald Trump called out the “piece of garbage” peace proposal from Iran on Monday from the Oval Office, saying only “stupid people” in Iran are questioning his resolve in guaranteeing Iran will never have a nuclear weapon.
The latest Iranian proposal reneged on a past vow to give up enriched uranium.
None of this bodes well for the prospect of the Strait of Hormuz opening up anytime soon. Oil prices have reflected general pessimism at the start of this week.
Trump Might Fully Restart Project Freedom
Fox News is reporting that President Trump is considering renewing Project Freedom, pushing oil up. According to the developing story:
President Donald Trump has stated in an interview with Fox News that he is considering renewing Project Freedom, a military operation originally launched to secure the passage of commercial vessels through the Strait of Hormuz. This operation, involving significant U.S. naval assets, had been paused amid diplomatic efforts with Iran. The initial pause was influenced by diplomatic progress mediated by Pakistan, although recent developments suggest a potential escalation.
However, the reality is that the de facto US naval blockade has remained in place. The Iranians last week fired on US warships which were escorting foreign vessels through the strait. Since then there’s been an uneasy calm amid stalled negotiations. There’s really no movement on either side. Trump indicated in the fresh comments that all of this could be part of a larger operation, and strangely a bit of a contradictory stance: he said of Iran’s “hardline leaders” that “they are going to fold” and that “I will deal with them until they make a deal”. Of course, the very label of ‘hardline’ would suggest the opposite.
The same Fox correspondent was told by Trump that forcibly retrieving Iran’s ‘nuclear dust’ is still on the table:
.@realDonaldTrump Also told me that Iranian negotiators told him the US will have to retrieve the "nuclear dust" at Iran's destroyed facilities as Iran does not have the technology to do it. pic.twitter.com/2GgLVdQQoL
— John Roberts (@johnrobertsFox) May 11, 2026
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