WASHINGTON, United States (AFP)—United States (US) President Donald Trump said the ceasefire in the Middle East war was on “life support” Monday after rejecting Iran’s latest counteroffer, which it said had included demands for the release of frozen assets and the end of a US blockade.

The president’s angry reaction to Iran’s position — itself a response to a US proposal — sent oil prices soaring and dashed hopes that a deal could be quickly negotiated to reopen the Strait of Hormuz to commercial shipping.

After slamming the response as “TOTALLY UNACCEPTABLE”, Trump insisted the US would see a “complete victory” over Iran, adding that the truce which has largely halted fighting in the Gulf for over a month was on its last legs.