President Trump rejected Iran’s proposal to reopen the Strait of Hormuz and resume nuclear negotiations, keeping oil prices above $106 a barrel as the seven-month conflict entered a more dangerous phase marked by previously undisclosed American casualties and Iran’s seizure of a second U.S. underwater drone. The president also said his administration is “very seriously” considering a temporary ban on diesel exports, a move that analysts warned could backfire by pushing gasoline prices higher once domestic storage fills. SpaceX’s Starship reached orbit for the first time on its 14th test flight, deploying 26 Starlink satellites before exploding on splashdown as planned, while Trump hosted AI executives amid a widening clash with industry leaders and philanthropists over whether the technology needs government guardrails.