Iran and the US have given conflicting accounts on whether the two countries are in communication about potential talks on the war.

On Saturday, President Donald Trump said in a post on Truth Social that Iran had a 48-hour deadline to open the Strait of Hormuz "without threat" or the US would "hit and obliterate" power plants.

But on Monday, Trump postponed the deadline for five days, saying Iran has "one more chance" and that the US and Iran have held talks on the "complete and total resolution of hostilities" in the Middle East.

But Iran's parliamentary speaker, Mohammad-Bagher Ghalibaf, said that "no negotiations have been held with the US". Writing on X, he added that "fake news" is being used to "manipulate the financial and oil markets".

A senior Iranian official has however told the BBC's US partner, CBS News: “We received points from the US through mediators and they are being reviewed."

CBS clarifies that this step was taken "as a potential precursor to talks", and that talks are not confirmed or under way.

The White House, too, has urged caution, saying the situation is “fluid" and that, "speculation about meetings should not be deemed as final until they are formally announced by the White House".

Our live coverage of these developments continues here.

Peter Hoskins
Business reporter, Singapore

Image source, AFP via Getty Images

The price of Brent crude has moved back above $100 a barrel, after plunging on Monday.

On Tuesday morning in Asia, the oil benchmark was up by 3.75% at $103.69 (£77.42), while Nymex Light Sweet was 3.42% higher at $91.55.

The price of Brent fell by more than 10% on Monday after US President Donald Trump delayed fresh strikes on Iran that were seen as an escalation of the conflict and said a peace deal could be reached soon.

But now investors are weighing that against Tehran's denials that it had held talks with the US.

European Union chief Ursula von der Leyen emphasised the need for negotiated peace to bring an end to the Iran war, saying she was "deeply concerned" about the ongoing war.

"It is of utmost importance that we come to a solution that is negotiated, and this puts an end to the hostilities that we see in the Middle East," von der Leyen said alongside Prime Minister Anthony Albanese in Canberra.

Some EU countries are preparing to assist in a "mission" to protect the Strait of Hormuz once the war ends, von der Leyen said.

"We all feel the knock-on effects on gas and oil prices, our businesses and our societies," adding that the trade channel is "critical for the energy supply allies worldwide".

Image source, Reuters

Newsnight

John Bolton, who was National Security Advisor between for little over a year during Trump's first term, has described the US military strikes in Iran as "haphazard" and "not well thought out".

As a long-term supporter of changing Tehran's clerical government, Bolton tells the BBC's Newsnight that, "It would be nice to do it the right way instead of the haphazard way in which Trump is proceeding.

"The American people were not well prepared, Congress was not prepared, the allies were not prepared."

Bolton also says Iran has realised the devastation it can cause by blockading the Strait of Hormuz, where about one-fifth of the world's oil and liquefied natural gas passes through.

"The reality is if this regime remains in power, they now have visible proof of the effect of closing the Strait of Hormuz. It's not quite a nuclear weapon, but it leaves them in control of the oil coming out of the Gulf at their discretion going forward."

Since leaving the White House in 2019, Bolton has been a vocal Trump critic – writing in his memoir that his former boss was "stunningly uninformed" and unfit for office.

Image source, Getty

Amid conflicting reports about possible US-Iran negotiations, a senior Iranian foreign ministry official told the BBC's US partner CBS News: “We received points from the US through mediators and they are being reviewed."

CBS clarifies that this step was taken "as a potential precursor to talks", and that talks are not confirmed or under way.

The comments come after President Trump said the US and Iran held talks on ending the war, but Iran's parliament speaker denied it.

Trump has reiterated that the US could reach a deal to halt the conflict after walking back on threats to bomb Iranian energy sites and postponing the strikes.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

The IRGC (Islamic Revolutionary Guard Corps)-affiliated Fars News Agency has accused the US and Israel of attacking a gas administration building and a gas pressure reduction station on the same street in central Isfahan. According to Fars the attack caused damage to parts of these facilities as well as to nearby homes.

Fars has said that “reports emerged” that the gas pipeline supplying the Khorramshahr power plant in western Iran had also been targeted. But Fars added that, according to the governor of Khorramshahr, a projectile struck an area outside the gas pipeline station, and the incident had no casualties.

Daniel Bush
Washington correspondent

The White House on Monday appeared to tamp down speculation surrounding potential US-Iran negotiations over the war after President Donald Trump suggested the two sides were making "major" progress toward a deal.

Trump's comments about negotiations on a whirlwind day of remarks on the war sparked reports that US Vice-President JD Vance might represent the administration in talks between the US and Iran in Pakistan.

But the White House says the situation is “fluid” and cautioned that no formal meetings between any top leaders from the US and Iran have been announced.

"These are sensitive diplomatic discussions and the US will not negotiate through the press," Karoline Leavitt, the White House press secretary, tells the BBC in a statement.

"This is a fluid situation, and speculation about meetings should not be deemed as final until they are formally announced by the White House," Leavitt says.

Bernd Debusmann Jr
Reporting from the White House

According to reporting in the Financial Times and Axios, Pakistan is emerging as a would-be mediator in any negotiated end to the conflict in Iran.

As part of that effort, Pakistan has reportedly pitched its capital, Islamabad, as the venue for senior figures from the US and Iran to meet.

While this has not been officially confirmed by the US or Iran, for many in Washington the choice of Pakistan would come as no surprise.

Pakistan has close ties with Iran, and has also had warm relations with the Trump administration during his second term at the White House.

The country's Chief of Defence Forces, Asif Munir, met with Trump last year in June and September. During the latter visit, Munir was accompanied by Pakistani Prime Minister Shehbaz Sharif.

In June and October, Pakistan also nominated Trump to win the Nobel Peace Prize for his efforts to mediate during clashes with India - a move which endeared the country to many within the Trump administration.

Image source, Reuters

As we head into the early hours in the Middle East, here is a reminder of the key updates from across the region:

• Donald Trump has reiterated that the US and Iran could reach a "very good deal" on ending the conflict, after he rowed back on threats to bomb Iranian energy sites and postponed the hits for the next five days
• Israeli Prime Minister Benjamin Netanyahu agrees that reaching agreement with Iran will allow the US-Israeli operation to "realise the goals of the war" - he's been speaking after a phone call with the US president
• Iran, though, insists the talks never happened; its parliament speaker Mohammad-Bagher Ghalibaf says "fake news" has been used to "manipulate" the oil markets
• Today, even the prospect of talks has sent the stock market surging and global oil prices dropping, our North America correspondent writes
• Meanwhile, hostilities have continued; smoke could be seen rising over Lebanese capital Beirut, Iranians tell the BBC of strikes in Tehran, and Saudi Arabia says it shot down four drones in its eastern province
• Over in the UK, Chancellor Rachel Reeves will address MPs on Tuesday about the decisions of an emergency "Cobra" meeting - when she is set to announce an anti-profiteering framework
• It follows an appearance before the Liaison Committee for Keir Starmer, in which the prime minister warned against "false comfort" that the war will have a "quick and early end"

Guy Delauney
Balkans correspondent, in Ljubljana

Slovenia has become the first EU member state to implement fuel rationing to tackle disruptions caused by the US-Israeli strikes on Iran and its retaliation on their allies in the Gulf - most major players in world energy markets.

Many countries have been experiencing steep hikes in fuel prices.

In Slovenia, this has resulted in so-called "fuel tourism", as drivers from neighbouring countries, particularly Austria, take advantage of the lower, regulated prices here.

Under the new measures, private motorists in Slovenia will be restricted to a maximum purchase of 50 litres of fuel per day. Businesses and farmers have a more generous allowance of 200 litres.

"Let me reassure you that there is enough fuel in Slovenia, the warehouses are full and there will be no fuel shortages," said Prime Minister Robert Golob at the weekend.

Under his government's new measures, the nationwide restrictions are to be policed by the petrol stations themselves, with employees required to make sure that customers do not stock up on more than the allowed amount of fuel.

• One lorry driver says he's "never experienced anything like this before" - and we've more reaction in our main news story

Image source, Reuters

Throughout Monday, there have been conflicting reports about US-Iran talkspublished at 21:59 GMT 23 March

21:59 GMT 23 March

Frank Gardner
Security correspondent

One report, coming out of the US, is that talks took place on Sunday night involving Donald Trump's favourite envoys: Steve Witkoff and Jared Kushner.

Another report, though, which I think is very credible, is that these talks involved Egypt, Turkey and Pakistan as mediators.

Last week, foreign ministers from Arab and Muslim-majority countries gathered in Riyadh to condemn Iran's actions in this war, but also to condemn Israel's actions - in particular, its hitting of the South Pars gas facility.

This expansion is the thing that has really rattled this region: the escalation of this war away from military bases getting hit, to economic targets.

• As a reminder: Trump earlier said the US and Iran held talks on ending the war, but Iran's parliament speaker denied they had taken place, saying "fake news" was being used to "manipulate" the oil markets.

Image source, Reuters

The US Embassy in Muscat has lifted a stay in place order for citizens in Oman's capital.

The advice to take shelter had been issued at 20:42 local time (16:42 GMT).

The ministry says that while this advice has been lifted for the capital, "shelter in place guidance remains for the rest of Oman due to ongoing activity".

The embassy tells citizens: "To the extent possible, remain in your residence, hotel, or another structure, and stay away from windows."

Saudia Arabia's defence ministry says it has shot down four drones over an eastern province this evening.

The ministry does not report any casualties, but says all four drones were "intercepted and destroyed".

We'll bring you more information on this when we get it.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

Strikes on Tehran have started again, three sources tell me.

Iranian outlets are reporting that air defence has been activated in the Iranian capital.

Ghoncheh Habibiazad
Senior reporter, BBC Persian

Iranians have been speaking to BBC Persian, reacting to US President Donald Trump's social media post saying he had ordered the US military to postpone further strikes on Iranian power plants and energy infrastructure.

One man in his 20s, who lives in Tehran, says it will be very costly for Iranians: "Whether the Islamic Republic remains or realises that it is on its last legs, it will increase the cost to the Iranian people as much as possible."

A woman, also in her 20s, from northern Iran, says: "Did you see Trump’s new message? It’s driving us crazy."

While a woman in her 40s, from Tehran, believes Trump wants to give the Iranian leadership "another ultimatum". She adds: "If they don’t open up the Strait of Hormuz, he will strike because he wants to put pressure on them, either by capturing Kharg Island or by attacking them on land."

Jack Fenwick
Political correspondent

Image source, Reuters

As the war in the Middle East continues, the UK government has been discussing how to battle the economic fallout from the conflict as cost of living pressures increase.

After attending an emergency Cobra meeting on Monday, the Chancellor Rachel Reeves will tell MPs tomorrow that the government is creating a new anti-profiteering framework to protect people from unfair price rises in the wake of the conflict in the Middle East.

It's after senior ministers, including the prime minister, chancellor and energy secretary, attended a meeting of the government’s emergency Cobra committee today to discuss the war’s impact on the cost of living.

Downing Street said the new framework would help regulators like the Competitions and Markets Authority (CMA) to root out price gouging.

Sir Keir Starmer earlier said he was looking at giving the CMA “further teeth” after concerns that energy suppliers and petrol retailers could use the war to unfairly increase prices.

Image source, Reuters

Here are some pictures taken not long ago in Lebanon's capital, Beirut, where smoke can be seen rising over the city's southern suburbs.

Moments ago, the Israel Defense Forces said it was carrying out "a wave of air strikes against terrorist Hezbollah infrastructure in Beirut".

The National News Agency, run by Lebanon's government, says Israel has launched three air raids over Beirut's southern suburbs.

Image source, Reuters

Image source, Reuters

We can now bring you an update from Israeli Prime Minister Benjamin Netanyahu, who says he spoke to Donald Trump earlier today.

He says the US president believes there is "an opportunity to leverage the tremendous achievements" of the joint US-Israel operation to "realise the goals of the war" by making an agreement with Iran.

This agreement, the Israeli PM says, "will safeguard our vital interests".

Netanyahu also says Israel's military are continuing to strike both in Iran and Lebanon, are "smashing" Tehran's nuclear programme and delivering "severe blows" to Hezbollah.

"Just a few days ago, we eliminated two more nuclear scientists, and there is more to come. We will safeguard our vital interests in any situation," he says.

However, we reported earlier today that Iran's parliament speaker denies discussions with the US have been taking place, saying "fake news" is being used to "manipulate" the oil markets.

Israel's military says it has identified missiles launched towards the country from Iran.

"Defensive systems are operating to intercept the threat," the Israel Defense Forces (IDF) writes.

It's unclear which area of Israel has been targeted, but the IDF says mobile phones in the relevant area have received an alert.

Nabiha Ahmed
Live reporter

Image source, Reuters

If you're just joining us, or are in need of a quick recap, here are the latest developments:

• Donald Trump: Earlier today, the US president announced there had been "productive conversations" about a "complete and total resolution" to the US-Israeli war with Iran - our diplomatic correspondent breaks down what that might look like
• Iran: However, following reports from various Iranian news agencies, Iran's foreign ministry issued a statement denying any such talks with Washington
• Israel: Meanwhile, Israel has been conducting strikes in what they call the "heart of Tehran". BBC Verify has been examining footage of an explosion at an Iranian navy base and a fire at a building linked to a US-sanctioned Iranian electronics company
• The strikes come after the Israel Defence Forces says Iran fired missiles towards Israel
• Red Cross: The Red Cross says the conflict risks reaching a "point of no return" in the Middle East, as the Lebanese health ministry says more than 1,000 people have been killed since Israel began its offensive operations

• "It will still take time for normality to return," says one Iranian at Turkey's Kapikoy border crossing
• A day that looked dismal for major world economies now has a glimmer of hope, writes our North America correspondent Anthony Zurcher

Stick with us for the latest updates and analysis.