The White House had indicated Trump was close to a decision on a potential deal, even as Tehran insisted there was still "no final agreement" on ending the Middle East conflict.

"Global oil inventories are being drawn down at a record pace in response to the major loss of supply through the Strait of Hormuz," the heads of the agencies said in a joint statement.

'At this stage, we are focused on ending the war,' says Iran's foreign ministry spokesman Esmaeil Baqaei

Trump to make decision on extending ceasefire with Iran

Iran’s foreign ministry yesterday said that there was still “no final agreement” with the United States to end the Middle East war, after US President Donald Trump said he was making his decision on a potential deal.

If approved by leadership in Washington and Tehran, it would amount to the biggest step towards peace since the conflict began on February 28

The United States and Iran reached an outline agreement yesterday to extend their ceasefire pending the approval of President Donald Trump, after Iran had targeted a US air base in Kuwait following US strikes on what Washington called an Iranian drone operation.

Calls for unity and cohesion among Iranians

The authority is a body Iran has set up to manage requests for passage through the Strait of Hormuz.

"These actions were measured, purely defensive and intended to maintain the ceasefire," the official said.

Iran’s Revolutionary Guards yesterday said that a return to war with the United States was unlikely, but warned the Islamic republic stood ready to respond to any attack.

World Bank-administered and UN-endorsed fund has received no money from donors

Conducted self-defence strikes in southern Iran to protect troops, US says

Iran accused the United States of breaching their ceasefire yesterday and warned it was ready to retaliate after overnight US strikes targeting Iranian missile sites and mine-laying boats threatened a deal to end the war.

Iran's Supreme Leader Mojtaba Khamenei said on Tuesday that regional countries would no longer be shields for US bases, in a written statement carried by state television

The strikes came as Iran's top negotiator and its foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the US to end the three-month-old war

Iran and the United States yesterday played down hopes for an imminent breakthrough in efforts to end their three-month-old war, with the top US diplomat saying Washington will either get a good agreement or deal with the country in “another way.”

Deal with Iran will either be a great and meaningful one, or there will be no deal, Trump says

Marco Rubio said a deal to end the war with Iran could materialise "today"

Rubio: Nuclear deal can’t be done 'on a napkin'