The United States and Iran moved closer to a deal aimed at ending months of conflict after US President Donald Trump cancelled planned military strikes and declared that an agreement with Tehran was near. Trump said discussions had reached senior levels within the Iranian leadership and claimed a signing ceremony could take place soon. He told reporters that the war had been settled and said the Strait of Hormuz would reopen after an agreement was signed.

President Trump had previously been amping up his rhetoric against Iran.

US President Donald Trump said the naval blockade would remain “until this transaction is finalised”, with the time and place of the signing to be announced.

President Trump announced a potential peace deal with Iran, aiming to reopen the Strait of Hormuz to shipping this weekend. While Trump claimed a "great settlement" and Iran's…

US president says agreement close as Strait of Hormuz tensions linger