US war latest: Oil prices rise as strikes continue and Trump says Tehran ‘afraid’ to admit to talks

China sees 'glimmer of hope' in US peace proposal even as Iran says it has 'no intention' of negotiating
Oil prices climbed on Thursday morning to $103 a barrel after Iran said it was still reviewing a US proposal to end the war, which has disrupted energy flows.

US president Donald Trump last night said Iranian leaders are negotiating with Washington but were afraid to admit due to fears of being “killed by their own people”.

“...they want to make a deal so badly,” Mr Trump said.

Mr Trump’s 15-point proposal, sent through Pakistan, calls for removing Iran’s stocks of highly enriched uranium, halting enrichment, curbing its ballistic missile program, and cutting off funding for regional allies, according to three Israeli cabinet sources familiar with the plan.

Iran’s foreign minister, Abbas Araghchi, said messages had been exchanged via mediators, but this “does not mean negotiations” with the US were ongoing.

He said Tehran had demanded a permanent end to the war and compensation for all destruction during the conflict.

Meanwhile, the US has confirmed the deployment of troops to the Middle East after Iran reportedly sent back the “excessive” demands of Mr Trump’s peace plan.

Iran running a ‘toll booth’ regime in Strait of Hormuz
Iran is running a “de facto ‘toll booth’ regime” in the Strait of Hormuz, controlling which ships come through and getting payment for their safe passage, a leading shipping intelligence firm said.

Lloyd’s List Intelligence published an analysis highlighting Iran’s practices through the strait.

It described vessels having to provide manifests, crew details and their destination to Iran’s paramilitary Revolutionary Guard.

The information goes to the Guard’s “Hormozgan Provincial Command for sanctions screening, cargo alignment checks that currently prioritise oil over all other commodities, and for what is described as ‘geopolitical vetting,’” Lloyd’s List said.

“While not all ships are paying a direct toll at least two vessels have and the payment is settled in yuan,” Lloyd’s List said, referring to China’s national currency.

Iran has not directly explained the process for ships to go through the strait, though a foreign ministry spokesperson appeared to acknowledge Tehran was receiving payments for some ships.

Israel says two people hurt in blast north of Tel Aviv
An Israeli ambulance service said it was providing aid to two people hurt in a blast after the missile barrage north of Tel Aviv in Kfar Qasim.

Israel responding to barrage of Iranian missiles
Israel this morning said its air defences were responding to a second barrage of missiles incoming from Iran.

Earlier in the day, sirens sounded about an hour after sunrise across a large swathe of central Israel, including areas around Tel Aviv and Jerusalem, as well as in the occupied West Bank.

Fuel prices in Thailand surged today after the government lifted a cap on diesel prices and reduced fuel subsidies.

The majority of fuel types rose by 6 baht ($0.18) per litre.

Diesel prices jumped by about 18 per cent.

The increase is expected to hit the industrial and transportation sectors particularly hard and has raised concerns about a ripple effect on the cost of goods.

Thai prime minister Anutin Charnvirakul said earlier this week the government would allow fuel prices to adjust in line with global market rates, aiming to manage demand following a surge in panic buying.

Japan begins release of oil reserves
Japan has begun releasing another portion of its strategic oil reserves as it seeks to cushion the impact of surging prices driven by the war in Iran.

“The release [of the national stockpile] started at 10.59am local time to oil refiners,” Kaname Morimoto, an official of the ministry of economy, trade and industry, told AFP news agency.

Japan is the world’s fifth-largest oil importer, sourcing more than 90 per cent of its crude from the Middle East.

China’s top diplomat says Beijing sees a “glimmer of hope” for peace in the Middle East due to efforts being made to stop the war.

The Trump administration has sent Tehran a 15-point peace plan but warned it would “unleash hell” if the Islamic Republic refuses to accept.

China, an Iran ally which has been largely on the sidelines of the conflict, urged dialogue between Tehran and the Washington."With both the United States and Iran signalling a willingness to negotiate, a glimmer of hope for peace has emerged,” Wang Yi told Egyptian foreign minister Badr Abdelatty.

The statement came hours before Iran’s foreign minister Abbas Araghchi said no negotiations had taken place so far, adding that Tehran’s position remained “completely principled".

White House staffers ‘baffled’ over Trump claiming Iran gave him a prize
White House staffers were reportedly left “baffled” by President Donald Trump’s claim Tuesday that he had received a gift from Iran, about which he then refused to disclose anything further.

“They did something yesterday that was amazing, actually.

They gave us a present and the present arrived today.

It was a very big present, worth a tremendous amount of money,” he added.

“I’m not going to tell you what that present is, but it was a very significant prize, and they gave it to us.”
White House staffers ‘baffled’ over Trump’s claim Iran gave him a mystery gift
Israel launches heavy strikes on Isfahan
Activists in Iran reported heavy strikes early this morning around Isfahan, a city some 330km south of Iran’s capital, Tehran.

The semiofficial Fars news agency, close to the paramilitary Revolutionary Guard, described the attacks as targeting “two residential areas,” without elaborating.

Earlier, Israel’s military said it had completed “a wide-scale wave of strikes” across Iran, including in Isfahan.

Russia sending drones to Iran - report
Iran is about to receive a phased shipment of drones, medicine and food from Russia, the Financial Times reported, citing western intelligence reports.

Iranian and Russian officials began holding secret talks on supplying drones within days of US and Israeli strikes on Tehran last month, the report said.

Preparations for the deliveries started in early March and were expected to be completed by the end of the month.

Moscow has reportedly provided its ally with critical support, including satellite imagery, targeting data and wider intelligence assistance, according to people familiar with the matter.

Russia sending drones to Iran to help war effort, western intelligence says
Oil prices rise to $103 a barrel
Oil prices climbed this morning, recovering some of the previous ‌day's losses as investors reexamined prospects for de-escalation in the Middle East as Iran said it was still reviewing a US proposal to end the war, which has disrupted energy flows.

Brent futures rose $1.13, or 1.1 per cent, to $103.35 a barrel by, while ​US West Texas Intermediate crude futures were up $1.08, or 1.2 per cent, at $91.40 a barrel.

Both benchmarks slumped more ​than 2 per cent yesterday.

Despite reviewing the proposal, Iran has no intention of holding talks ⁠to end the widening Middle East conflict, the country's foreign minister said.

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