"We will be taking Kharg Island and other oil infrastructure points, and assume total control of their oil and gas markets," warned the U.S. President, as hostilities flare amid tit-for-tat strikes.

President Trump said he has canceled Thursday airstrikes he previously threatened on Iran, citing progress toward a peace deal.

Oil ​prices settled lower on Thursday after U.S. President Donald Trump canceled plans to strike Iran ‌within hours, a move that raised expectations for a deal to end more than three months of war.

Dramatic reversal comes hours before expected strikes, but details of diplomatic developments not immediately clear

Hours after vowing to “strike hard” against Iran, Mr Trump said there had been a breakthrough in peace negotiations. Mr Trump told The New York Post that an agreement between Washington and Tehran to reopen the Strait of Hormuz and begin nuclear ...