Iran's supreme leader has rejected peace negotiations with the United States, vowing not to relinquish the country's nuclear and missile capabilities while maintaining control of the Gulf region and Strait of Hormuz. President Trump has escalated his rhetoric in response, demanding Iran comply soon, while both sides claim victory in recent conflicts. The standoff centres on Iran's refusal to negotiate on missiles following recent warfare, Trump's blockade strategy that has pushed oil prices above $125, and slim prospects for diplomatic resolution despite potential flexibility on some issues.

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