US president dismisses Iranian media reports agreement is close, despite earlier suggesting a deal could be signed this weekend

Prospects for an immediate end to the war between Iran and the US remained uncertain on Friday amid a chaotic series of conflicting claims and counter-claims by US and Iranian officials about ongoing negotiations.

Donald Trump seemed to distance himself from his earlier comments that suggested a preliminary agreement could be signed as soon as this weekend, with a series of angry social media posts describing the Iranians as “very dishonorable people to deal with”.

Amid rhetoric, market uncertainty and tit-for-tat exchanges, the two sides are still trying to find a way out of the impasse

Great news! Donald Trump has said the US and Iran are on the verge of a peace agreement. Oil prices are down, and the stock market is up. This comes only hours after Trump warned Iran was about to be struck “VERY HARD”, a threat that had sent oil prices up and stocks down.

It has been another ride on the Trump rollercoaster, keeping traders on edge, most of the world poorer, and people of the Middle East constantly whiplashing between fear and hope. But whether the ride veers up or down, the management always makes money.

Consumer sentiment still remains at historically low levels amid Iran war and rising inflation, new survey shows

Easing gas prices are making Americans feel better about their personal finances and the economy in June, but consumer sentiment remains at historically low levels amid ongoing conflict in the Middle East, according to new survey data from the University of Michigan.

The latest numbers come as SpaceX marks its historic stock market debut, which has made Elon Musk the world’s first trillionaire. Yet many Americans still feel like they are struggling even as the stock market reaches record highs.

Flag bans, travel headaches and a religious regime video among bumps in road, as team prepares to be first to play in country with which it is at war

Iran will present a major challenge to Fifa’s “football unites the world” slogan on Monday by becoming the first country in World Cup history to compete on the soil of a host nation with which it is at war.

The national team’s opening match against New Zealand in Los Angeles will kick off amid continuing hostilities between Iran and the US that have intensified in recent days, as a fragile ceasefire has failed to hold and attempts at reaching a negotiated settlement have sputtered.

Brent crude falls as optimism rises that strait of Hormuz could reopen over the weekend

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Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.

The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran scheduled for the evening.

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Donald Trump and his allies have discussed pushing lawmakers to pass a resolution aimed at voiding his first-term impeachments, the Wall Street Journal reported last night, citing people familiar with the matter.

“It should be done because I did nothing wrong,” Trump said when asked about the resolution in a phone call this week with the Journal. “It was a rigged deal — it was a whole rigged situation.”

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Iran’s official Islamic Republic News Agency (IRNA) has cautioned against media speculation about a potential memorandum of understanding to end the war, particularly on claims regarding the strait of Hormuz.

IRNA reported that Iran will not surrender its control of the strategic waterway and the US will have no role in its future management.

Contrary to some bizarre claims in the media, Iran in no way makes a commitment in this text to hand over its management or to restore the strait of Hormuz to the state before the military aggression of the US and Israel. The only point mentioned is the normalisation of transit through the strait of Hormuz upon the end of the war, the establishment of maritime security by the coastal states, the end of the illegal blockade, and the removal of threats to commercial shipping by the US and Israel. At Iran’s request, the US will have no role whatsoever in the future management of the strait of Hormuz. It has been made clear that the future administration of the strait will be based on an Iranian initiative and proposal, within the framework of a matter pertaining to the countries of the region. In this framework, discussions about the future of the strait of Hormuz will not take place even in negotiations after the signing of the agreement, and Tehran will directly resolve this issue in talks with Oman.”