Iran has received a formal American response to its truce proposal that would reopen the Strait of Hormuz within seven days, an Iranian official said on Wednesday, though the contents were not disclosed. Government spokeswoman Fatemeh Mohajerani confirmed Tehran had received the response. Iran's proposal, conveyed by Foreign Minister Abbas Araghchi at the UN General Assembly through Qatar, offered to reopen Hormuz if the United States lifts its naval blockade of Iranian ports, waives oil sanctions and releases about $12 billion in frozen assets, alongside a wider regional ceasefire covering Lebanon and Yemen. US President Donald Trump rejected the proposal on Saturday, saying Iran was losing badly. The US Ambassador to the UN, Mike Waltz, said Tehran was asking for everything up front. Indirect talks via Qatar and Pakistan continue even as fighting goes on. Reuters reported that just 17 vessels crossed the strait over a weekend compared with 37 before and about 125 a day pre-war, while Brent crude traded near $106.90, up about 2.5 percent.