Donald Trump has paused the US naval escort plan in the Strait of Hormuz after claiming progress in talks with Iran. The move has steadied markets, but Tehran's hardliners and the continuing blockade cast doubt on any deal.

US President Donald Trump has warned Iran it will face "a much higher level and intensity" of strikes if it fails to agree to a peace deal that the two sides are reportedly closing in on.

Iran has said it is reviewing the latest American proposals on ending the war, as U.S. President Donald Trump threatened the country with a new wave of bombing unless a deal is reached that includes reopening the crucial Strait of Hormuz to international shipping.

Iran has said it is reviewing the latest American proposals on ending the war, as U.S. President Donald Trump threatened the country with a new wave of bombing unless a deal is reached that includes reopening the crucial Strait of Hormuz to international shipping.

Iran denies attacking a cargo ship as Trump warns of renewed military action amid ongoing negotiations for a peace deal.

Mediator Pakistan says it is "endeavouring to convert this ceasefire into a permanent end to this war".

Iran said it was reviewing the latest US proposal that sources say would end the fighting but leave several key issues open, as US President Donald Trump claimed a deal was “very possible” but also warned of renewed fighting if Tehran rejected the deal.

Washington DC: US President Donald Trump on Wednesday said that their Operation Epic Fury will be ended and the blockade would allow the Strait of Hormuz

"We've had very good talks over the last 24 hours, and it's very possible that we'll make a deal," Trump told reporters.

US media is reporting that both sides may be close to agreeing a one-page memorandum of understanding to end the conflict.