The United States and Iran have reached an agreement to extend a ceasefire, allow shipping through the Strait of Hormuz and lift a US blockade and some sanctions on Iran, sources have said, but the deal has not been finalised. US President Donald Trump’s approval is still pending.

An agreement would represent a big step towards ending a war that has pushed the world towards an energy crisis, though the underlying dispute over Iran’s nuclear programme would only be thrashed out in talks over subsequent weeks.

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