Iran denies deal with US is imminent despite some progress

Tehran says ‘contradictory statements’ from US and Israeli interference hindering negotiations

Iran has poured cold water on suggestions that a deal with the US is imminent, pointing to the confusion in US positions and Israeli interference as key factors in why a complete agreement is proving difficult to secure.

Speaking at the weekly foreign ministry press briefing, Esmail Baghaei, the spokesperson for Iran’s negotiating team, also said future management of the strait of Hormuz was a matter for Oman and Iran to reach agreement on, and that it was not tolls that were being proposed but “fees for navigational services”.

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Oil prices fall below $100 a barrel on hopes of Iran peace deal

Brent crude futures down 6% to lowest level in two weeks and stock markets rise

Oil prices fell below $100 a barrel on Monday and stock markets rose on hopes that the US and Iran are inching closer to a peace deal.

Brent crude futures, the global oil benchmark, were down 6% to $97.43 a barrel, the lowest level in two weeks, with hopes that an agreement to end the near three-month US-Israeli war on Iran can be struck.

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With oil markets nearing the danger zone, a US-Iran deal can’t come soon enough | Heather Stewart

Global prices are approaching a tipping point that could trigger inflation, shortages and, over time, recession

If a US-Iran deal is about to be reached, three months on from the launch of Donald Trump’s Operation Epic Fury, it will not be a day too soon for oil markets, which are approaching a dangerous tipping point.

The cost of a barrel of crude on the spot market – for immediate purchase, effectively – has bounced about $100 since Iran predictably responded to the onslaught from the US and Israel by closing the strait of Hormuz.

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What may be included in proposed Iran ceasefire deal?

Proposed framework hinges on a 60-day truce, reopening strait of Hormuz, and revived talks on limiting Iran nuclear programme

Middle East crisis: live updates

Donald Trump has said a “memorandum of understanding” in talks to end the US-Israel war on Iran “has been largely negotiated”.

Official details of the deal remain scant and it remains possible some aspects of the memo could change, but here is what we know so far about the potential agreement that could bring an end to the war.

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Trump may see himself in Ahmadinejad but having him lead Iran was a perplexing idea

Former Iranian president has a populist, headline-grabbing communication style but is an avowed anti-Zionist. How could Israel see him as a man to do business with?

For all their outward differences, there always seemed to be things that linked Mahmoud Ahmadinejad and Donald Trump.

A visit to the then Iranian president’s rather humble Tehran neighbourhood nearly 20 years ago highlighted cost of living problems that prefigured those facing Trump now.

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US and Israel ‘hoped to install Ahmadinejad as Iran’s leader’

Airstrike at the start of the war was aimed at freeing populist ex-president from house arrest, US newspaper claims

Fresh questions have been raised over the US and Israeli effort to depose the Iranian regime after it was claimed that Israel wanted to put the populist Mahmoud Ahmadinejad in power.

Ahmadinejad’s turbulent presidency, from 2005 to 2013, was marked by incendiary attacks on Israel but he recast himself as a critic of the regime and champion of the poor after falling out with the supreme leader Ali Khamenei.

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Trump threatens ‘a big hit’ if Tehran does not make deal soon

Renewed threat comes after US president said he was ‘an hour away’ from ordering a strike before pulling back

Donald Trump has again threatened Iran, saying the US may launch new attacks if Tehran continues to refuse the significant concessions he wants before a deal can be struck to end the Middle East war.

The US president said he had called off a fresh wave of strikes, which would have broken the ceasefire in place since early last month. “I was an hour away from making the decision to go today,” Trump said on Tuesday.

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Middle East crisis live: Trump warns ‘clock is ticking’ for Iran to reach peace deal

US president says there ‘won’t be anything left’ of country if it doesn’t come to an agreement

Oman’s foreign ministry has condemned the drone strike that caused a fire at the perimeter of UAE’s Barakah nuclear power plant on Sunday.

In a statement shared to X, the ministry expressed its solidarity with the UAE but stressed that it rejected all “hostile and escalatory acts” as it urged for dialogue to address regional issues and called for international law to be respected by all parties.

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UAE to complete second oil pipeline bypassing strait of Hormuz by 2027

State oil company fast-tracks previously undisclosed project, which is expected to double export capacity

The United Arab Emirates has announced it will complete a new oil pipeline bypassing the strait of Hormuz by next year to secure its future crude exports against the threat of disruption.

The current blockade of the vital waterway, through which 20% of oil and seaborne gas flowed before the Iran war, is approaching the 11-week mark, sending energy prices soaring around the world and throttling Gulf economies.

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Iran says ships entering strait of Hormuz must cooperate after vessel seized

Docked ship reportedly seized outside UAE port by “unauthorised personnel”

The Iranian foreign minister, Abbas Araghchi, has said ships entering the strait of Hormuz must cooperate with the Iranian navy as reports emerged of a ship being seized outside a United Arab Emirate port and taken towards Iranian waters.

The UK Maritime Trading Organisation said the docked ship was seized by “unauthorised personnel” while it was anchored off the coast of the United Arab Emirates port of Fujairah near the southern entry to the strait of Hormuz.

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Iran war oil shortage forces Japan snack giant to use black-and-white packaging

Calbee to switch its brightly coloured packaging to black and white because war has disrupted supply of certain raw materials used in ink

Japan’s biggest snack maker has been forced to use black-and-white packaging for some flagship products because of ink ingredient shortages caused by the strait of Hormuz blockade.

Calbee, whose potato chip brands in particular are known for brightly coloured bag designs, said 14 of its products would switch to monochrome branding by the end of May.

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The big questions hanging over the Trump-Xi meeting in China

Taiwan, tariffs and the strait of Hormuz are on the meeting’s agenda for Beijing – but will the US president be forced to ask for help in ending his war with Iran?

On 20 February, a White House official confirmed that US president Donald Trump would be travelling to Beijing the following month to meet with Chinese leader Xi Jinping. Top of the agenda: the US-China trade war.

One week later, Trump approved joint strikes with Israel against Iran, starting a new war in the Middle East. Its ramifications have spread far beyond the region and caused alarm in Beijing. The presidential summit was postponed.

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US awaiting response from Iran over proposals for ceasefire deal, says Rubio

Diplomatic efforts continue despite fighting in and around contested strait of Hormuz in recent days

The US secretary of state, Marco Rubio, has said that Washington is expecting a response from Iran to its proposals for an interim deal to end the conflict in the Middle East, as Iran accused the US of breaching the increasingly fragile ceasefire announced last month.

In recent days there have been the biggest flare-ups in fighting in and around the contested strait of Hormuz since the informal truce began. The rise in violence followed Donald Trump’s announcement – then rapid pause – of a new naval mission aimed at opening the strategic waterway.

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Iran war costs Toyota £3bn as prices of materials soar and sales fall

Carmaker gives one of biggest warnings yet of conflict’s impact on businesses while Trump tariffs also take toll

Toyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.

The world’s biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war’s impact on businesses.

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Iran mocks Trump’s ‘Project Freedom’ as adversaries wrestle over talks to end war

President indicated that deal had materialised but truth was that Saudi Arabia had stopped US use of its bases

When Donald Trump abruptly pulled the plug on “Project Freedom”, the scheme to open the strait of Hormuz, barely a day after it had been announced, he gave the impression that an opportunity for a peace deal had materialised that could not be missed.

To the surprise of nobody who has been following the US’s recent adventures in geopolitics, Trump’s spin concealed a lot of the underlying reality. It turns out that Trump suspended Project Freedom after Saudi Arabia stopped the US military from using its bases or airspace to carry out the operation, which involved giving air cover to commercial shipping sailing through the strait.

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Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again

In today’s newsletter: ​The brief US effort to ​s​teer trapped vessels through the ​waterway ​put the fragile ceasefire under strain

Good morning. Uncertainty once again reigns in the Middle East. The uneasy ceasefire between the US and Iran threatened to disintegrate after Donald Trump launched an initiative – dubbed “Project Freedom” – to help thousands of sailors stranded in the Gulf by the war to pass through the strait of Hormuz.

To Iran, the announcement was a cynical provocation. Flurries of fighting restarted as Iran sought to maintain its grip on the critical passageway out of the region.

UK politics | Zack Polanski falsely claimed to be a spokesperson for the British Red Cross while campaigning for the Green party leadership, the charity has said.

Fuel shortages| Two million airline seats have been cut from this month’s schedules as airlines redraw their operations because of soaring jet fuel prices amid the Middle East conflict.

UK news| A British crew member who became ill after a suspected outbreak of hantavirus on luxury cruise ship the MV Hondius is to be medically evacuated, officials have said.

Tax | An increased windfall tax should be imposed on the UK’s largest banks, say trade union leaders, after the big four lenders reported almost £14bn in first-quarter profits, partly fuelled by market turbulence amid the Iran war.

Society | People from black backgrounds in England are twice as likely to experience strokes as their white counterparts, while also being less likely to receive timely care, according to the largest study of its kind.

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Donald Trump sends warships to break Iran’s strait of Hormuz blockade

US operation announced as ‘Project Freedom’ dramatically raises stakes in conflict

The US has launched Donald Trump’s operation to open a route through the strait of Hormuz for hundreds of ships trapped with their crews in the Gulf, in a move that brought the region back to the brink of full-scale war as Iran sought to reassert its blockade.

The US operation, which got under way on Monday after being announced as “Project Freedom” by Trump on Sunday night on his social media site, dramatically raised the stakes in a conflict that had been in a month-long period of uneasy limbo.

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‘Project Freedom’: a grand humanitarian gesture, or a fast track to more war?

After banging his battle drum, Trump is back in Nobel peace prize mode. But the move has dramatically raised the stakes

“Project Freedom” has all the trappings of a classic episode of the Trump Show, the reality series that the rest of the world does not just have to watch, but live through and survive. It has a dramatic plot twist, it is bathed in a self-projected beatific light, and the trailer looked far more promising that the reality.

Trump spent a long weekend in Florida banging the war drum. Iran had not “paid a big enough price” for its past misdeeds, he wrote in an online post before spending Friday afternoon revving up a cheering crowd at America’s largest retirement community.

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Shipping firms question safety in strait of Hormuz despite Trump plan

President says US navy will ‘guide’ stranded ships out of waterway but report says warship was hit by Iran

The world’s shipping industry has questioned whether vessels will be able to travel safely to and from the Gulf after Donald Trump announced his latest plan to open the strait of Hormuz.

Trump wrote on Monday that the US navy would “guide” stranded ships out of the waterway, writing on his social media site Truth Social that the operation, “Project Freedom”, would be a humanitarian gesture “on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran”.

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Nigerian refinery accused of sacking union members is key to UK plan to tackle jet fuel shortage

Heidi Alexander says part of answer to strait of Hormuz crisis is importing more fuel from US and west Africa

A refinery in Nigeria accused of dismissing workers for joining a union has emerged as key to the UK government’s hopes of saving the summer holiday amid a jet fuel shortage.

Heidi Alexander, the transport secretary, said at the weekend that part of the answer to the strait of Hormuz crisis was to import more fuel from the US and west Africa.

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