US and Iran reach ceasefire extension deal pending Trump’s final approval

There was no immediate confirmation of the report which prompted oil prices to reverse course and trade lower.

Sanctions, strikes and mistrust keep the region trapped between diplomacy and escalation

Iranian forces have claimed to have targeted a US airbase, hours after Washington launched an attack near Bandar Abbas airport.

The aim would be for commercial shipping in the strait to return to pre-war levels within 30 days and for negotiations envisaged to last as long as 60 days to commence on the future of Iran’s nuclear programme.