AFP, Tehran

The United States was waiting yesterday for Iran to respond to its latest proposed deal to end the war in the Middle East and to reopen the key shipping lane out of the Gulf.

Oil prices tumbled five percent after US President Donald Trump said once again that an agreement could be near after positive talks and Iran said it would pass on its latest position to mediator Pakistan.

However, late yesterday, Iran’s foreign ministry spokesperson said Tehran has not yet reached a conclusion on the proposal, and no response has been given to the US.

Any agreement to prolong the ceasefire between the United States and Iran could also lower tensions in Lebanon, where an already fragile truce was under renewed strain after an Israeli strike on southern Beirut killed a Hezbollah commander.

The war, launched by the United States and Israel in late February, has seen Iran respond with attacks across the Middle East and impose a chokehold on the Strait of Hormuz, the gateway to the Gulf oil and gas industries and a strategic trade route.

Trump had this week briefly launched a naval operation to escort commercial vessels and force open the strait, only to stand it down within hours, citing progress on negotiations with Iran, which have been mediated by Pakistan and supported by Washington’s Gulf

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