The United States and Iran exchanged a new round of military strikes on Wednesday, pushing their ceasefire agreement to its lowest point since it was signed last month. US President Donald Trump said the memorandum of understanding between Washington and Tehran was "over" after overnight attacks, although he added that negotiators were free to continue talks if they wished.

Renewed hostilities between the US and Iran have also heightened safety and security concerns around the Strait of Hormuz.

Washington launched strikes on the Islamic Republic overnight in response to ships being hit in the Strait of Hormuz. Iran retaliated by targeting US bases in the Gulf.