HEADLINES

• Oil prices fell on Tuesday after hitting their highest level in more than three years in the prior session. READ MORE BELOW

• China's foreign ministry said the country has assisted over 10,000 Chinese citizens in returning from the Middle East. READ MORE BELOW

• US President Donald Trump told Republican allies "We have won in many ways…. but we haven't won enough." READ MORE BELOW

• Turkish President Tayyip Erdogan told Iranian President Masoud Pezeshkian in a phone call that violations of Turkish airspace cannot be justified. 

• More than 667,000 people are now registered as displaced within Lebanon - an increase of 100,000 in just one day - the UN refugee agency (UNHCR) said.

• The Kremlin said the possibility of lifting US sanctions on Russian oil had not been discussed in any detail with Washington.

• Russia also said President Vladimir Putin has offered different options to mediate and ways to reduce tensions in the Iran conflict.

• Australia has granted humanitarian visas to five Iranian women soccer players after they sought asylum, fearing persecution on their return home for their refusal to sing the national anthem at an Asia Cup match. Iran's General Prosecutor Office says the team is invited back to the homeland "with peace and confidence".

• Israel's military has issued an evacuation warning for residents near Lebanon's Litani river, signaling an imminent strike.

• Iranian Foreign Minister Abbas Araghchi told broadcaster PBS News about US and Israel objectives: "I don't think they have any realistic endgame in their mind."

IN DETAIL

Oil prices fall back

Oil prices fell on Tuesday as Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies.

Brent futures fell $6.51, or 6.6%, to $92.45 a barrel at 0018 GMT, while U.S. West Texas Intermediate crude  was down $6.12, or 6.5%, to $88.65.

Oil prices surged past $100 a barrel on Monday, hitting session highs of $119.50 for Brent and $119.48 for WTI, their highest since mid-2022, as supply cuts by Saudi Arabia and other producers during the expanding US-Israeli war with Iran stoked fears of major disruptions to global supplies.

Prices later retreated after Russian President Vladimir Putin held a call with Trump and shared proposals aimed at a quick settlement to the Iran war, according to a Kremlin aide, easing concerns about a prolonged supply disruption.

However, the Kremlin said the possibility of lifting US sanctions on Russian oil had not been discussed in any detail with Washington.

The war has already effectively shut the Strait of Hormuz, leaving tankers unable to sail for more than a week and forcing producers to halt pumping as storage facilities fill.

World's most vital oil export route

The strait is the world's most vital oil export ​route, connecting the biggest Gulf oil producers with the Gulf of Oman and the Arabian Sea.

The Islamic Revolutionary Guards Corps said it would not allow any oil to leave the region if attacks from the US and Israel continue.

Gulf oil producers have begun cutting output as the US-Israeli war on Iran disrupted shipping in the region. 

G7 nations said on Monday they were prepared to implement "necessary measures" in response to surging global oil prices but stopped short of committing to release emergency reserves.

After speaking with Putin, Trump said the US would waive oil-related sanctions on "some countries" to ease the shortage.

According to multiple sources, that could mean a further easing of sanctions on Russian oil. Other options include a possible release of oil from strategic reserves or restricting US exports, sources said.

10,000 Chinese citizens brought home

Chinese authorities and airlines have assisted over 10,000 Chinese citizens in returning from the Middle East, the foreign ministry said on Tuesday, after the war in the region forced airspace closures and grounded commercial flights.

Over 10,000 Chinese people have safely returned from countries including the United Arab Emirates, Oman and Saudi Arabia, Guo Jiakun, a spokesperson for China's foreign ministry, said in a press briefing on Tuesday.

Guo also said safeguarding the security and stability in the Strait of Hormuz serves the interests of all parties.

"The Strait of Hormuz and its adjacent waters serve as a vital corridor for international cargo and energy trade," Guo said. "Maintaining the security and stability in the region aligns with the common interests of all parties of the international community. 

"The pressing priority now is for all concerned parties to immediately cease military actions and prevent further escalation and spread of the tensions, so as to safeguard the global economy from being significantly disrupted by the regional turmoil."

Attacks continue

Tehran was choked in black smoke after an oil refinery was hit, an escalation in strikes on Iran's domestic energy supplies. World Health Organization chief Tedros Ghebreyesus warned the fire risks contaminating food, water and air.

Türkiye said NATO air defenses had shot down a ballistic missile that was fired from Iran and entered Turkish airspace, the second such incident of the war. Iran did not immediately comment on the report.

Israel's military said it had launched new attacks in central Iran and struck the Lebanese capital Beirut, where Israel has extended its campaign after the Iran-backed militia Hezbollah fired across the border.

US-Israeli attacks have killed at least 1,332 Iranian civilians and wounded thousands, according to Iran's UN ambassador. Lebanon has reported more than 400 people killed there, with nearly 700,000 people fleeing their homes.

In Israel, ambulance workers said one man died from shrapnel wounds at a construction site near Tel Aviv's international airport, raising to 11 the death toll from Iranian strikes.

'Very complete' but 'not won enough'

US President Trump said on Monday in a CBS News interview that he thinks the war against Iran "is very complete" and that Washington was "very far ahead" of his initial four- to five-week estimated timeframe.

However, he also told Republican allies that the US had not "won enough" and threatened to escalate the war with Iran if it blocked oil shipments from the Middle East.

In response to Trump, Iran's Revolutionary Guards (IRGC) said they would "determine the end of the war" and that Tehran would not allow "one liter of oil" to be exported from the region if U.S. and Israeli attacks continued, state media reported on Tuesday citing IRGC's spokesperson.

Trump said on Monday the US had inflicted serious damage on Iran's military. He also predicted the conflict would end before the initial four-week time frame he had set out, although he has not defined what victory would look like.

Israel says its war aim is to overthrow Iran's system of clerical rule.

US officials have mainly said Washington's aim is to destroy Iran's missile capabilities and nuclear programme, but Trump has said the war can end only with a compliant Iranian government.