Key facts
- Iran is reviewing a proposed agreement with the US to halt the war between the two countries.
- Indirect talks to negotiate an interim deal have been inconclusive.
- The Strait of Hormuz remains largely shut due to the conflict.
- Oil prices fell more than 1% on Tuesday.
- Israel continues strikes in southern Lebanon.
Iran is reportedly studying a proposed agreement with the United States aimed at halting the ongoing war between the two nations, as reported by Iran's Mehr news. The conflict, which began in late February, has led to a stalemate with largely indirect negotiations failing to yield an interim deal, resulting in the Strait of Hormuz being largely closed. This closure has significantly impacted global energy prices, with oil prices falling over 1% on Tuesday. Meanwhile, Israel continues its military operations in southern Lebanon, with a partial ceasefire announced by Lebanon appearing to avert further escalation.