Iran has rejected the latest ceasefire proposal and instead wants a permanent end to the war, despite U.S. President Donald Trump's ultimatum to avoid further attacks on power plants and bridges. The Iranian government's rejection came after Israel struck a key petrochemical plant in the South Pars natural gas field and killed two paramilitary Revolutionary Guard commanders. Despite this, a regional official involved in talks said efforts had not collapsed. The deadline for Iran to open the Strait of Hormuz, a key shipping hub for the world's oil, has been set at 8pm Washington time. Iran's grip on the strait has caused oil prices to rise and has shaken the world economy.