Middle East crisis live: Trump extends ceasefire but US and Iran at loggerheads over port blockade

US Treasury secretary Scott Bessent says Iran’s Kharg Island storage facilities will be full and their ‘fragile’ oil wells shut in mere days because of the blockade; oil prices rise amid ongoing uncertainty

• Trump announces extension of Iran ceasefire until ‘discussion concluded’

Shares have been mixed in early trading across Asia, while oil prices have eased on hopes the US and Iran may resume talks to end their war.

The price of Brent crude edged 0.2% lower but was still above $98 a barrel. US benchmark crude fell 0.4% to $89.29 a barrel.