Iran’s Press TV is out with a report:

• Iran reviewed the US proposal and considers them excessive
• Iran will not allow Trump to dictate the timing of the end of the war
• Tehran delivered via regional intermediary that it will continue defending itself
• The first condition for the end of the war is end of attacks and assassinations
• Iran’s defensive conditions will continue until its conditions are met
• Demand establishment of concrete guarantee preventing the recurrence of war
• Iran demands clear determination and guaranteed payment for war damage

I’m having a hard time seeing how this evolves into a ceasefire by the weekend. Then it’s in Trump’s hand about how much he wants to escalate.

Stock gains have faded somewhat and WTI has given back some gains.

CNN reports that the US is trying to conduct talks in Pakistan that include JD Vance so we will see what comes of that.