That was fast--huge late Friday night bombshell via The Wall Street Journal:

President Trump has rejected Iran's proposal for a seven-day ceasefire and has told aides he expects to resume bombing Iran after the November midterms, U.S. officials said.

Tehran's proposal would have reopened the Strait of Hormuz and resumed nuclear talks in return for the U.S. lifting its blockade of Iranian ports, which is causing deep damage to the country's economy. Trump says openly that Tehran is begging for a deal after the midterms that dismantles its nuclear program.

But privately Trump is skeptical Iran would meet his demands and has told his staff that he sees a renewed bombing campaign as likely, the officials said. 

Where do we go from here? So much for oil prices being artificially kept down, as the entire Friday drop is set to be erased.

Trump is reportedly expected to resume bombing Iran after the midterm elections, WSJ says.

OR, is this a classic Trump 'tough' negotiating ploy? The hardliners in the IRGC are unlikely to play ball.

The Friday Afternoon Denial
Via state media Fars:

Axios and Al Jazeera's claim about Iran-US talks denied, reports Fars; News regarding another round of talks is false, and claims technical experts from Iran were sent to NY to join the talks, is untrue

This was either the result of more premature or false Axios reporting, or else there's a possible in strategy divergence between IRGC vs. presidential delegation in New York. More from Fars:

IRGC Spokesperson says we will not stop punishing the US until Iran's seven conditions are met; our missiles are capable of destroying America's multi-layered defenses, Fars reports

'Technical Talks'
Are we back to headline ping-pong pushing down oil prices?

Latest: Iran-US negotiations in New York have moved beyond initial diplomatic contacts into a more detailed technical phase, with sources in Tehran describing the atmosphere as increasingly positive, CBS reports, citing Al Jazeera.