Iran’s Islamic Revolutionary Guard Corps warned Wednesday that its forces are "lying in wait" if President Donald Trump restarts combat operations, leaving the outlook for a nuclear deal between Washington and Tehran uncertain.

The reported draft agreement said Iran would reopen the Strait of Hormuz in return for the United States’ lifting its naval blockade.

As Iran accuses the U.S. of a "grave violation" of the fragile ceasefire, Rubio says a deal is still possible despite the latest clash.

Negotiations between the United States and Iran are reportedly facing an unusual obstacle: Iran’s supreme leader is allegedly operating entirely

Mojtaba Khamenei, Iran’s new supreme leader, pictured in 2019, does not wield the authority that his late father did - Hamid Forootan/Reuters In Iran, trust is an invaluable currency. But it is in short supply.

Oil prices fell by more than 3% on Wednesday as traders weighed up progress in U.S.-Iran peace talks and renewed hostilities.

By Arathy Somasekhar LONDON, May 27 (Reuters) - Oil prices were about 4% lower on Wednesday after Iranian state TV said it had seen a draft of an initial, unofficial framework for an agreement between Iran and the United States on ending their conflict and reopening the Strait of Hormuz.

President Donald Trump insists a peace deal is close on this 88th day of the Iran war, but Iran on Tuesday denounced U.S. strikes a day earlier as a sign of “bad faith and unreliability” as negotiatio