US-Iran war live updates: Trump tells Iran to ‘make a deal before it’s too late’ as US strikes bridge; states agree to cut fuel prices further with GST windfalls

Thank you for joining our continuing live coverage of the conflict in the Middle East.

Here’s a recap of the latest developments:

• In a prime-time address, US President Donald Trump repeated his estimate that the war would last another two to three weeks, and said he would bomb Iran “back to the Stone Ages”.
• Trump, in a post on Truth Social, also shared a video of a bridge collapsing in Iran, stating there was “much more to follow” and it was time for Iran to “make a deal before it is too late”.
• French President Emmanuel Macron has called for less “chatter” from the US president about the war and a more “serious” approach.
• Opposition Leader Angus Taylor followed up Prime Minister Anthony Albanese’s address to the nation with one of his own. “We must dig and we must drill. We need more Australian oil for Australians,” Taylor said.

Three tankers broadcasting Omani ownership appeared to enter the Strait of Hormuz by hugging their home country’s coastline, indicating a different route to a northerly path through Iranian waters.

Two oil supertankers and an LNG vessel headed east into the strait on Thursday morning local time, based on satellite signals. All three vessels are managed by Oman Ship Management Company, according to the Equasis marine database. The company couldn’t be reached for comment.

While the Strait of Hormuz has been largely blocked since the start of the conflict, Iran has begun to negotiate transit for a handful of vessels tied to friendly nations, which have followed an agreed northerly route through its own waters.

On Thursday, Iran’s state-run IRNA said Tehran was drafting a protocol with Oman to monitor traffic through the Strait.

Wall Street tumbled in early trade after Donald Trump’s fiery address but recovered much of their losses after a report that Iran is drafting a protocol with Oman to monitor traffic through the Strait of Hormuz.

The S&P 500 was down 0.1 per cent in mid-afternoon trade after slumping as much as 1.5 per cent in early trading on Thursday on Wall Street. The Dow Jones shed 142 points, or 0.3 per cent, The Nasdaq composite fell 0.2 per cent. Stocks in Europe finished lower.

Sentiment was boosted after a state-run Iranian news agency said the country is drafting a protocol with Oman to monitor traffic through the key corridor for oil transport, having effectively shut it down since the start of the war.

Oil prices remain elevated, with Brent, the international standard, up 7.1 per cent to $US108.32 per barrel while US oil is 11.1 per cent higher to $US111.26.

“We remain very reactive to headlines and rhetoric around the conflict, and the market is unlikely to have a sustained upward trajectory unless there are tangible signs of de-escalation,” said Mark Hackett, chief market strategist at Nationwide.

Russian Foreign Minister Sergei Lavrov discussed the situation around the safety of navigation in the Strait of Hormuz in a phone call with Iran’s Foreign Minister Abbas Araghchi on Thursday, the Russian foreign ministry said in a statement.

The call took place at the initiative of the Iranian side, the foreign ministry said.

“The parties exchanged views on discussions in the UN Security Council regarding the safety of navigation in the Strait of Hormuz and addressing other consequences of the unprovoked aggression by the US and Israel against Iran,” the ministry said in the statement.

Lavrov discussed with Araghchi efforts to “de-escalate tensions” in the conflict, the ministry said.

Reuters

Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani has told the United Nations Security Council he hopes for a council vote on Friday on a resolution Bahrain has drafted to protect commercial shipping in and around the Strait of Hormuz.

Oil prices have surged since the US and Israel struck Iran at the end of February, kicking off a conflict that has now exceeded a month and effectively closed the strait to shipping traffic.

Bahrain has presented Security Council members with a fourth draft of a resolution that would authorise “all necessary means” to protect commercial shipping in and around the Strait.

It had previously dropped an explicit reference to binding enforcement in a bid to overcome objections from other nations, particularly Russia and China, and the latest draft seen by Reuters sets a six-month time limit for the steps.

“We look forward to a unified position from this esteemed Council during the vote that will take place on the draft resolution tomorrow, God willing,” Al Zayani told a meeting on Thursday of the 15-member council, which Bahrain currently chairs.

He said Iran’s “unlawful and unjustified attempt to control international navigation in the Strait of Hormuz” threatened the interests of nations and peoples around the world and “requires a decisive response.”

Reuters

US President Donald Trump has shared a video on his Truth Social platform of a bridge collapsing in Iran and black smoke billowing around it after a strike.

“The biggest bridge in Iran comes tumbling down, never to be used again — Much more to follow!” Trump wrote.

“IT IS TIME FOR IRAN TO MAKE A DEAL BEFORE IT IS TOO LATE, AND THERE IS NOTHING LEFT OF WHAT STILL COULD BECOME A GREAT COUNTRY! President DONALD J. TRUMP”

A highway bridge linking Iran’s capital Tehran to the western city of Karaj was hit by air strikes on Thursday, Fars news reported, adding that early assessments point to several injured people and that other areas of Karaj were struck.

with Reuters

Thank you for joining our continuing live coverage of the conflict in the Middle East.

Here’s a recap of the latest developments:

• In a prime-time address, US President Donald Trump repeated his estimate that the war would last another two to three weeks, and said he would bomb Iran “back to the Stone Ages”.
• Trump, in a post on Truth Social, also shared a video of a bridge collapsing in Iran, stating there was “much more to follow” and it was time for Iran to “make a deal before it is too late”.
• French President Emmanuel Macron has called for less “chatter” from the US president about the war and a more “serious” approach.
• Opposition Leader Angus Taylor followed up Prime Minister Anthony Albanese’s address to the nation with one of his own. “We must dig and we must drill. We need more Australian oil for Australians,” Taylor said.