U.S. President Donald Trump said on Monday that a ceasefire with Iran was "on life support" after Tehran's response to a U.S. proposal to end the war made clear the two sides were still far apart on a number of issues, reports Reuters.

Iran has called for an end to the war ‌on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also demanded compensation for war damage, an end to the U.S. naval blockade, a guarantee of no ‌further attacks, and resumption of Iranian oil sales.

Tehran also emphasized its sovereignty over the Strait of Hormuz, where it has shut down shipping traffic that normally carries one-fifth of the world's oil and gas supply.

Trump said Iran's response threatened the status of a ceasefire ​that has been in place since April 7.

"I would call it the weakest right now, after reading that piece of garbage they sent us. I didn't even finish reading it," said Trump, who has repeatedly threatened to end the ceasefire.

The U.S. had proposed an end to fighting before starting talks on more contentious issues, including Iran's nuclear program.

Tehran defended its stance on Monday.

"Our demand is legitimate," Foreign Ministry spokesperson Esmaeil Baghaei said.

Iran's parliament speaker Mohammad Baqer Qalibaf said that Iran's armed forces are ready to respond decisively to any "act of aggression".

Brent crude oil futures were up 3% to more than $104 a barrel, as the deadlock left the Strait of Hormuz largely closed. Before the ‌war began on February 28, the narrow waterway carried one-fifth of the world's oil and liquefied natural gas, and has since become a central pressure point in the conflict.

Disruption caused by the near-closure of the strait has forced oil producers to cut exports, and OPEC oil output dropped further in April to the lowest in more than two decades, a Reuters survey showed on Monday.

The United States on Monday imposed new sanctions on individuals and companies it said were helping Iran ship oil to China, part of efforts to cut off funding for Tehran's military and nuclear programs, while also warning banks about attempts to evade existing curbs.

END/REUTERS/ASA

At least 34 people, including two babies were killed when a contraband fuel depot exploded into flames in southern Benin near the border with Nigeria on Saturday.

According to Beninese Interior Minister Alassane Seidou, “a serious fire occurred in the town of Seme Podji. Another 20 people were seriously wounded in the incident.”

"I can't really give you the cause of the fire, but there is a large gasoline warehouse here and cars, tricycles and motorcycles come from morning to evening,” he added.

Nigeria is a main oil and gas producer where fuel smuggling is very common along its borders, particularly when the government maintains a subsidy to keep fuel prices low.

The majority of the victims were burnt and they could not be not be identified.

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