IRNA reports that Iran has relayed its rejection of a ceasefire plan.

The message from Tehran has been consistent, they want a permanent end to the war with security guarantees and compensation, not a temporary ceasefire. They say they’ve been attacked during negotiations before and want everything settled before unblocking Hormuz.

“That’s not surprising,” said former US national security advisor Mark Esper. “I don’t see a ceasefire coming, the sides are too far apart.”

Of course, there are ‘demands’ in the media and then real negotiations. Many wars have ended surprisingly and suddenly due to negotiations that weren’t done in public.

Axios now reports that Iran sent a 10-point response to the proposal to end the war but it was also described as ‘maximalist’ and makes it unclear if it will allow for a diplomatic solution.

WTI crude oil is down 31-cents to $111.18. The S&P 500 is up 13 points, or 0.2%, to 6593.