Trump hails progress but warned Iran of ‘hard hit’ if no deal reached

US President Donald Trump warned Iran that it was their "last chance" to sign a good peace deal, but Iran denied any new direct negotiations. This comes after Trump's decision to call off massive attacks** on Iran, which he said was at the request of Iranian officials and Arab intermediaries.

Trump's comments followed his previous claims that talks were underway between the US and Iran, but Iran has consistently denied this. In fact, Iran's Foreign Ministry spokesperson Esmail Baghaei said no negotiations with the United States were taking place.

The threat to ships carrying oil in the Middle East is at its worst since the Iran war started, experts have said. The number of ships passing through the Strait of Hormuz has dropped significantly, from over 100 per day before the war began to just 8 on Sunday and 11 on Saturday.

Iran's defense minister warned that vessels and forces will face serious risks and casualties if Washington's naval blockade of Iranian ports continues. Meanwhile, Qatar said mediators were making progress in efforts to end the US-Iran war, driving oil prices lower.