Image source, Bloomberg via Getty Images

Global oil prices are trading higher on Thursday morning in Asia after Iran's foreign minister said the country has "no intention of negotiating for now" with the US.

On Wednesday, Abbas Araghchi told state media that exchanges between Tehran and Washington had been “conveyed via friendly countries” and do not mean negotiations are being held.

In response US President Donald Trump said Iran's leaders are "afraid" to admit that they are in talks.

Brent crude rose by 1.6% to $103.85 (£77.71), while West Texas Intermediate was 1.4% higher at $91.61.

Suranjana Tewari
Asia Business Correspondent

The war in Iran is reshaping politics within Asia. Even with its long-running dispute with China over the South China Sea, Manila is hinting it might be ready to get closer to Beijing.

Asia - and the Philippines in particular - is highly exposed to any disruption in global oil supplies, especially through the Strait of Hormuz, because the country depends so much on imported fuel.

President Ferdinand Marcos Jr. has said he’s open to restarting talks with China on joint oil and gas exploration in contested waters, calling the current crisis a possible “impetus” for cooperation.

For China, it’s a chance to show it can be a reliable energy partner in Southeast Asia. Both sides have clear reasons to engage: the Philippines needs more energy sources, and China wants to strengthen its influence in the region.

Dubai has become one of the key pillars of the aviation industry. Its airport - Dubai International Airport (DBX) - is the busiest in the world for international travellers, far outstripping London Heathrow. In 2024, more than 92 million passengers made their way through its gleaming, marble-floored halls.

Under normal circumstances, the three Gulf airports - including Abu Dhabi and Qatari capital, Doha – together handle more than 3,000 flights every day, with the majority of them operated by local carriers, Emirates, Etihad and Qatar Airways.

But since the conflict in the Middle East, aircraft at these major hub airports have been grounded in some instances, leaving hundreds of thousands of passengers stranded.

As the bombardments continue, air traffic in the region remains heavily disputed. But there is also the issue of fuel. Since Iran effectively blocked the Strait of Hormuz, supplies from oil refineries in the Gulf have been choked off.

The region normally accounts for about half of Europe's jet fuel imports, and fears of scarcity have caused prices to double since the start of the conflict. Some carriers have already begun cutting flights in response. According to analysts at Cirium, more than 30,000 services to the Middle East have been cancelled since the start of the conflict.

What this means in the long-term for the hugely successful "Gulf model" of aviation - widely credited with transforming long-distance travel and making it cheaper - could be really damaging, experts say. If the conflict drags on, more passengers will find alternative routes to fly, which will inevitably drive prices up, experts say.

Read more here in our InDepth piece by BBC transport correspondent Theo Leggett.

Image source, Reuters

Fergal Keane
BBC News

The BBC has spoken to Iranians across Tehran, but has had to change their names to protect them from official retaliation.

One of those people is Zahra, a grandmother who has struggled to maintain contact with her family due to internet blackouts imposed by Iran’s government.

"My children are restless. Not being able to hear their voices is driving me insane. This is truly the height of cruelty and oppression for a mother," she told the BBC.

Outside her home, the residue of "black rain" left after US and Israeli strikes on oil depots covers the ground.

When asked if she wants a ceasefire, Zahra is scornful.

"This regime has inflicted so much pain on us over the past 47 years leaving countless mothers without their children, more than even the war itself did. So, I prefer that there be no ceasefire until this entire regime is gone."

You can read more from Zahra here.

Image source, Reuters

Footage has come through now on the remarks from Iranian Foreign Minister Abba Araghchi, which are in stark contrast to Donald Trump's latest address.

Daniel Bush
Washington correspondent

Trump appears increasingly interested in finding an off-ramp with Iran, or what he calls "winding down" the war.

But his exit strategy is unclear - and the US president's mixed messaging suggests he's still undecided about what would work best: ramping up the conflict to try to end it as quickly as possible, or pushing for a negotiated settlement with Tehran.

On Tuesday, Trump signalled the US may pursue both strategies at once. In a matter of hours, the Pentagon ordered ground troops to Iran, and US negotiators sent the Iranian regime a new 15-point peace plan.

By Wednesday, the White House was urging Iran to accept the deal while threatening to hit the country harder than ever if it didn't, stoking further confusion about Trump's intentions.

"President Trump does not bluff, and he is prepared to unleash hell," Karoline Leavitt, the White House press secretary, told reporters. "Iran should not miscalculate again."

Read Daniel Bush's analysis on Trump's mixed messaging.

Amir Azimi
Editor, BBC Persian

Image source, Reuters

While Washington talks about progress with Tehran, Iran rejects it outright.

That disagreement reflects a deep mistrust that stems from previous talks between the two sides.

They have twice raised hopes of easing tensions.

Both times, they were followed by Israeli and US military strikes on Iran.

From Iran's point of view, talks have not reduced the possibility of war; they have come just before it. That is why Trump's claims are being treated with suspicion.

But Iran's denial does not necessarily mean it is against talks. There is more going on.

Even officials who support diplomacy are under pressure. Trying negotiations again would be risky. There is no clear sign that this time would be different, which helps explain the tough tone from Foreign Minister Abbas Araghchi and other officials.

More: Iran's rejection of US talks reflects deep mistrust

Ghoncheh Habibiazad
Senior reporter, BBC Persian

As we reported earlier, Iranian Foreign Minister Abbas Araghchi has said in a televised interview on Iran’s state TV news channel that for “several days” the US has "begun sending various messages through different intermediaries”.

But he says that the fact these messages were “conveyed via friendly countries”, and that Iran was responding by stating their “positions and issuing warnings”, is “neither dialogue nor negotiation, nor anything of the sort”.

Araghchi also says that Iran’s policy for now is to continue “defending”, and they have “no intention of negotiating for now”.

He adds that, “This is Israel’s war and people of the region and people of the US are paying the price for it”.

Image source, Reuters

Our live coverage of the Iran war continues amid conflicting reports about negotiations between Washington and Tehran. Here are the latest developments:

• Speaking on Wednesday, White House Press Secretary Karoline Leavitt said President Trump has been engaged over the last three days in "productive conversations" with Iran
• She also said the operation was "ahead of schedule" and the Iranian regime was looking for an "exit ramp"
• That message is in stark contrast to the tone of Iranian Foreign Minister Abbas Araghchi, who said later that Iran has “no intention of negotiatingfor now”
• He said messages had been “conveyed via friendly countries”, but these exchanges is “neither dialogue nor negotiation, nor anything of the sort”
• Undeterred, Trump insists that Iran "are negotiating", saying "they're afraid to say it because they figure they'll be killed by their own people". He added: "They're also afraid they'll be killed by us"
• There has also been conflicting reports about proposals to end the war. On Wednesday, there were reports that Iran had received a 15-point plan from the US for reaching a ceasefire
• For its part, an Iranian “senior political-security official” was quoted by state broadcaster Press TV as saying they had five conditions to end the war, including payment of "war damages and reparations" and the end of the war across all fronts
• Meanwhile, the fighting continues - smoke was seen billowing from an Israeli power station after a reported Iranian missile attack, while Iranian air defence systems have been heard in Tehran

Stay with us for the latest updates and analysis.