US-Iran war live updates: The United States and Iran signaled on Friday that an agreement to end their war was closeUS-Iran war live updates: The United States and Iran have agreed on the wording of a deal aimed to bring an end to their war in West Asia, said Pakistan's Prime Minister Shehbaz Sharif. He added that Pakistan, which has been leading mediation efforts, is working with both sides on the next steps.The reported progress in negotiations follows three days of exchanges involving Iran, the United States and Israel earlier this week, which raised fears of a wider conflict across the region. When will the deal be signed? Three regional officials told Associated Press that the proposed agreement is also expected to include the gradual easing of sanctions on Iran and the release of frozen Iranian assets. According to the officials, a signing ceremony could take place in the coming days once authorities in Washington and Tehran give their approval. Earlier, US President Donald Trump said the agreement could be signed as soon as this weekend. Trump on Thursday said there had been major progress in the negotiations, only hours after warning of intensified attacks and threatening to take control of Iran's oil industry. Sharp fall in oil prices Oil prices dropped to their lowest levels since the early days of the war as traders reacted to signs of increased traffic through the Strait of Hormuz and growing optimism over an interim peace agreement between the United States and Iran. Brent crude futures fell 3.4 per cent to settle at $87.33 a barrel, their lowest closing level since March 5, and ended the week down 6.2 per cent. US West Texas Intermediate (WTI) crude settled 3.2 per cent lower at $84.88 a barrel, while European gas prices dropped by as much as 8.4 per cent, according to Bloomberg. Apart from growing hopes for peace, the fall in oil prices has also been driven by markets adapting to the closure of the Strait of Hormuz and finding alternative ways to manage supply disruptions. Inside the proposed US-Iran deal Draft terms of the proposed agreement suggest that the US would begin releasing billions of dollars in frozen Iranian assets and ease sanctions on Iranian oil exports in exchange for Iran reopening the strait, news agency Reuters reported. Iran's nuclear programme would be discussed during a 60-day negotiation period. A US official said the agreement would eventually result in the dismantling of Iran's nuclear programme, with its stockpile of highly enriched uranium destroyed and removed. The proposed terms also include an inspection system aimed at ensuring long-term compliance. However, Iranian foreign minister Abbas Araghchi told state television that Iran, which the report said has not agreed to dismantle its nuclear programme, wants to keep the uranium in a diluted form. "For Tehran, the only preferred solution for its highly enriched uranium stockpile is down-blending the material," he said. The report also said the proposals include discussions on possible war reparations for Tehran and the removal of long-standing US demands to limit Iran's missile programme. The US official rejected that claim. ...Read MoreThe reported progress in negotiations follows three days of exchanges involving Iran, the United States and Israel earlier this week, which raised fears of a wider conflict across the region. When will the deal be signed? Three regional officials told Associated Press that the proposed agreement is also expected to include the gradual easing of sanctions on Iran and the release of frozen Iranian assets. According to the officials, a signing ceremony could take place in the coming days once authorities in Washington and Tehran give their approval. Earlier, US President Donald Trump said the agreement could be signed as soon as this weekend. Trump on Thursday said there had been major progress in the negotiations, only hours after warning of intensified attacks and threatening to take control of Iran's oil industry. Sharp fall in oil prices Oil prices dropped to their lowest levels since the early days of the war as traders reacted to signs of increased traffic through the Strait of Hormuz and growing optimism over an interim peace agreement between the United States and Iran. Brent crude futures fell 3.4 per cent to settle at $87.33 a barrel, their lowest closing level since March 5, and ended the week down 6.2 per cent. US West Texas Intermediate (WTI) crude settled 3.2 per cent lower at $84.88 a barrel, while European gas prices dropped by as much as 8.4 per cent, according to Bloomberg. Apart from growing hopes for peace, the fall in oil prices has also been driven by markets adapting to the closure of the Strait of Hormuz and finding alternative ways to manage supply disruptions. Inside the proposed US-Iran deal Draft terms of the proposed agreement suggest that the US would begin releasing billions of dollars in frozen Iranian assets and ease sanctions on Iranian oil exports in exchange for Iran reopening the strait, news agency Reuters reported. Iran's nuclear programme would be discussed during a 60-day negotiation period. A US official said the agreement would eventually result in the dismantling of Iran's nuclear programme, with its stockpile of highly enriched uranium destroyed and removed. The proposed terms also include an inspection system aimed at ensuring long-term compliance. However, Iranian foreign minister Abbas Araghchi told state television that Iran, which the report said has not agreed to dismantle its nuclear programme, wants to keep the uranium in a diluted form. "For Tehran, the only preferred solution for its highly enriched uranium stockpile is down-blending the material," he said. The report also said the proposals include discussions on possible war reparations for Tehran and the removal of long-standing US demands to limit Iran's missile programme. The US official rejected that claim. Follow all the updates here:Jun 13, 2026 8:55:02 AM ISTUS-Iran war live updates: The reports of another alleged US attack on the Liaki Freedom, a vessel carrying Indian crew members off the coast of Oman are false, India's external affairs ministry said.“We have spoken with the Master of the vessel Liaki Freedom, who has confirmed that all crew members are safe and that the reported information is false,” the ministry of external affairs said in a statement to HT.(Inputs from Rezaul H Laskar)Jun 13, 2026 8:46:38 AM ISTUS-Iran war live updates: US President Donald Trump accused Iran of launching drone attacks on Indian ships departing the Strait of Hormuz, calling the alleged action "totally unacceptable". Tehran, however, dismissed the allegation as "baseless".Three vessels carrying Indian crew members were attacked off the coast of Oman this week. One of the incidents led to the deaths of three Indian seafarers on Wednesday."Their (Iran's) totally rebuffed Drone attack last night against Indian Ships leaving the Hormuz Strait is TOTALLY UNACCEPTABLE," Trump claimed in a post on Truth Social on Friday.Iran strongly denied the accusation."The US president's accusation against Iran regarding an Indian vessel in the Strait of Hormuz is simply baseless," the Iranian Embassy in India said in a social media post late on Friday night."It is an attempt to divert public attention from the brutal fact that the US has attacked 3 Indian vessels in less than a week and killed 3 innocent Indian sailors. That's pathetic!" it said.Trump's comments came after India summoned the Charge d'Affaires of the US Embassy in New Delhi to lodge a protest over US attacks on commercial vessels carrying Indian nationals near the coast of Oman.Jun 13, 2026 8:36:15 AM ISTUS-Iran war live updates: There are reports of another alleged US attack on the Liaki Freedom, a vessel carrying Indian crew members off the coast of Oman, HT has learnt.The Forward Seamen's Union of India said it has been unable to establish contact with the ship as its Very High Frequency (VHF) radio is not responding.There has been no confirmation from either US or Indian authorities regarding the reported incident. The condition of those on board remains unclear, and there is no information on possible casualties so far.(Inputs from Rezaul H Laskar)Jun 13, 2026 8:29:44 AM ISTUS-Iran war live updates: Oil prices dropped to their lowest levels since the early days of the war as traders reacted to signs of increased traffic through the Strait of Hormuz and growing optimism over an interim peace agreement between the United States and Iran.Brent crude futures fell 3.4 per cent to settle at $87.33 a barrel, their lowest closing level since March 5, and ended the week down 6.2 per cent. US West Texas Intermediate (WTI) crude settled 3.2 per cent lower at $84.88 a barrel, while European gas prices dropped by as much as 8.4 per cent, according to Bloomberg.Apart from growing hopes for peace, the fall in oil prices has also been driven by markets adapting to the closure of the Strait of Hormuz and finding alternative ways to manage supply disruptions.Jun 13, 2026 8:25:28 AM ISTUS-Iran war live updates: A Western source told Reuters that the agreement could be signed as early as Sunday by US Vice President JD Vance and Iran's parliament speaker, Mohammad Baqer Qalibaf, with Geneva considered the most likely location for the ceremony.A US administration official said Europe had been discussed as a possible venue for the signing, but no final decision had been taken.Iranian foreign minister Abbas Araghchi said the agreement would be signed remotely before being formally announced. Iran's semi-official Fars news agency, citing a source close to Tehran's negotiating team, reported that claims of a signing ceremony between the United States and Iran in Geneva on Sunday are incorrect. The source told the agency that reports suggesting the two countries will sign an agreement in Geneva this weekend are false.Jun 13, 2026 8:19:11 AM ISTUS-Iran war live updates: Pakistan Prime Minister Shehbaz Sharif said on Friday that the United States and Iran have agreed on the text of a peace agreement."Amid ongoing intense mediation efforts by Pakistan, we are fully aware of incessant misinformation campaign being waged by those who want to sabotage the peace deal," Shehbaz said in a post on social media."Setting aside the noise, we can confirm that a final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalise the next steps," he said.