US-IRAN WAR: TRUCE IN TROUBLE

Oil prices tumbled while US stocks surged on Thursday after President Donald Trump cancelled military strikes on Iran and teased a possible peace deal.

Near 1750 GMT, both major oil futures contracts were down more than 3%, while major US equity rose sharply. The Dow Jones Industrial Average was up 1.7% at 50,753.64.

US President Donald Trump said he was calling off strikes on Iran on Thursday and flagged the signing of a possible deal with Tehran after top-level talks.

"Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have... cancelled the scheduled strikes and bombings against Iran this evening," Trump said on his Truth Social network.

"Time and place of the signing to be announced shortly," added Trump.

US President Donald Trump said on Thursday he has canceled strikes against Iran that had been scheduled for later in the evening.

Iran's top joint military command, Khatam al-Anbiya Central Headquarters, said on Thursday the United States would receive a more severe response than before if it attacks Iran, after Trump said the US would strike Iran again.

"Considering recent US threats against Iran's oil infrastructure, either oil and gas exports are for everyone or they will be available for no one," the command said in a statement carried by state media, adding the war would become more widespread and extensive, causing insecurity in the region.

UN Secretary-General Antonio Guterres is "deeply concerned" by the continued escalation in the Middle East, including strikes by the United States on Iran and Iranian strikes on its neighbours, a UN spokesperson said in a statement on Thursday.

"He urges the parties to return to the full implementation of the ceasefire and avoid any further deterioration, which, as he told the Security Council yesterday, could trigger a full resumption of the conflict, with unpredictable consequences for the region and the world, especially the most vulnerable countries," the spokesperson said.

A strike wounded 10 staff members of a hospital in the Lebanese city of Tyre on Thursday, the facility's director told AFP, as Israeli raids continue in the country's south.

All three of the historic city's hospitals have been hit since the start of the latest war between Hezbollah and Israel in early March.

UN Secretary-General Antonio Guterres said on Thursday that all parties must work towards a diplomatic settlement that fully respects the territorial integrity, sovereignty and political independence of Lebanon.

In a post on X, Guterres added that there must be a comprehensive ceasefire and said he fully supports a monopoly on weapons by the Lebanese government.

A US jet fired two missiles into the engine room of the tanker Jalveer off Oman on Thursday, US Central Command confirmed, as authorities said the 20 crew members were safe after the third strike on Indian-crewed tankers this week.

Three Indian sailors died in a US strike on the Settebello tanker off Oman a day earlier.

"A US aircraft fired two Hellfire missiles into the ship’s engine room after the crew repeatedly failed to comply with directions from US forces," Centcom said in a statement.

It said US forces had "acted against" the Guinea-Bissau flagged tanker as it "attempted to transport oil from Iran through the Gulf of Oman".