Amy Morris

I'm Amy Morris.

The ceasefire between the U.S.

and Iran is, quote, unbelievably weak after President Trump rejected Tehran's latest peace offer, which he called a piece of garbage.

President Trump says he'll speak with a large group of generals regarding Iran today.

Iran has demanded a lifting of Washington's naval blockade and sanctions relief while maintaining control over traffic through Hormuz in response to the U.S.

peace proposal.

President Trump called that unworkable.

Bloomberg reporter Dan Williams is based in Jerusalem.

Bloomberg reporter Dan Williams on Bloomberg Intelligence.

And the cost of crude is on the rise.

Senior analyst Sally Yilmaz with Bloomberg Intelligence.

Sally Yamaz with Bloomberg Intelligence.

WTI now nearing $99 a barrel and Brent Krug closing in on $105 a barrel.

President Trump is voicing support for a gas tax holiday to counter the price of the pump.

Trump told CBS News in a phone interview he'd like to pause the federal 18.4 cents a gallon tax on gasoline for a period of time.

though it's not clear how much of that would reach consumers.

Bloomberg Intelligence Senior U.S.

Policy Analyst Nathan Dean.

Bloomberg Intelligence Senior U.S.

Policy Analyst Nathan Dean on balance of power.