Oil prices fell in early trade this morning as hopes for easing US-Iran tensions, following reports that Iran could allow ships to pass through around ​the Strait of Hormuz, outweighed concerns over ongoing supply disruptions.

Brent crude futures dropped ‌44 cents, or 0.5 per cent, to $94.49 a barrel.

US West Texas Intermediate crude futures was down 70 cents, or 0.8 per cent, at $90.59 a barrel.

The White House expressed optimism ​yesterday about reaching a deal to end the war with Iran, while also ​warning of increasing economic pressure against Tehran if it remains defiant.

Admiral Brad Cooper, head of US Central Command, has said that Donald Trump’s forces have “completely halted economic trade going in and out of Iran by sea”.

The command said yesterday that no vessels have made it past its forces during the blockade’s first 48 hours. The blockade began on Monday.

Central Command noted that 10 vessels have complied with directions to turn around and return toward an Iranian port or Iran’s coastal area.

The blockade is being enforced “impartially against all vessels of all nations entering or leaving coastal areas or ports in Iran,” the Command said. Vessels avoiding Iranian ports are not affected.

Paramedic groups say a fourth Lebanese rescue worker has died after three consecutive, targeted strikes by the Israeli military yesterday that also wounded six others.

The back-to-back Israeli attacks on the southern village of Mayfadoun hit the first group of medics responding to a distress call from wounded civilians.

A second group trying to assist their wounded colleagues and a third group rushing to aid the first two teams that had been targeted were also hit in the attack.

The Israeli military has previously accused the Iran-backed Hezbollah militant group of using ambulances as cover for militant activities, without offering evidence.

Chinese foreign minister Wang Yi has urged his Iranian counterpart Abbas Araghchi to work to restore normal navigation in the Strait of Hormuz.

The top diplomat told Iran that while its sovereignty and security in the strait should be respected and safeguarded, freedom and safety of navigation must also be guaranteed, according to the foreign ministry.

“The current situation has reached a critical stage between war and peace, with a window for peace opening,” Wang said, according to Xinhua.

“It is a shared call of the international community to strive to restore normal navigation through the strait,” he added.

US president Donald Trump in a midnight post claimed he is “trying to get a little breathing room between Israel and Lebanon”.

“It has been a long time since the two leaders have spoken, like 34 years. It will happen tomorrow,” he said on Truth Social.

Lebanon and Israel held their first direct diplomatic talks in decades on Tuesday in Washington following more than a month of war between Israel and the Iran-backed Hezbollah militant group.

Despite Hezbollah’s outright rejection, the talks are a major step for two countries with no diplomatic relations that have been officially at war since Israel’s inception in 1948.

The latest round of fighting was sparked by Hezbollah firing rockets into northern Israel on 2 March, days after the United States and Israel attacked Iran, Hezbollah’s key ally and patron.

At least 2,124 people have been killed in Israeli strikes in Lebanon and more than one million displaced, according to the country’s health ministry.

The deadliest day of the war took place last week, when Israel launched 100 airstrikes across Lebanon in 10 minutes, including in the heart of the capital, killing over 350 people.

But the Islamic Republic’s offensive capabilities have been built up over nearly 50 years, during which Iran has been either at war or under the threat of conflict.

As an expert in military history and theory, I believe that to understand what may come next in Operation Epic Fury, it’s valuable to grasp the development of Iran’s modern military structure, capabilities and international activities.

Pakistan and Iran will continue talks on Thursday, CNN reported, citing Iranian state media.

Iran’s Foreign Minister Abbas Araghchi met with Pakistan’s army chief, Field Marshal Asim Munir, Wednesday.

“Delighted to welcome Field Marshal Munir to Iran”, Araghchi wrote on X. “Expressed gratitude for Pakistan’s gracious hosting of dialogue, emphasizing that it reflects our deep and great bilateral relationship. Our commitment to promoting peace and stability in the region remains strong—and shared”.

Munir and Iranian officials will meet on Thursday as well to discuss messages exchanged between Tehran and Washington since peace talks failed last weekend, according to CNN.

Most Americans blame US President Donald Trump for high gas prices amid the Iran war, according to a new poll.

The Quinnipiac University poll found that 65 per cent of US voters blame Trump either a lot or some for the rise in gas prices.

Americans are now paying more than $4 a gallon at the pump as the war causes oil prices to surge. Iran effectively closed the Strait of Hormuz after the US and Israel began strikes against the country on February 28.