Iran says ball is in US court as Vance sees progress in talks

▼ Easing

Iran says ball is in US court as indirect talks continue and Brent falls over 6%

Iran said on Tuesday's early hours that the US must lift its naval blockade and meet its demands in full before any agreement, while US Vice President Vance reportedly sees progress in the indirect talks. On Monday Iran's foreign ministry spokesperson described the talks as intensive and aimed at preventing a new round of US attacks, and Iran offered a two-day plan to reopen the Strait of Hormuz and resume nuclear talks. Brent crude fell more than 6.5% to as low as $105.55 on hopes of a breakthrough. Tensions remain: Trump repeated on Sunday that he might resume strikes, and Iran warned a renewed war could outlast the last one.

• Iran says it has a two-day plan to reopen the Strait of Hormuz if the US meets its demands, shortening a process first expected to take seven days. Netanyahu says he wants to "finish the job" first.
• Trump told a rally on Sunday he might give Tehran "the hammer", after earlier saying he would not strike before the US midterms on Tuesday.
• The IRGC says two tankers hit mines and caught fire in the Strait of Hormuz.
• Indirect talks in Doha ran into a third day on Sunday, with Qatar trying to negotiate the release of more than $6bn in Iranian assets.