We've just heard US Secretary of State Marco Rubio tell a news conference in India that a deal with Iran could see a "completely open" Strait of Hormuz - but why does this matter so much?

The waterway is one of the word's key trade arteries, through which around 20% of the world's oil passes.

Earlier in the conflict, numerous commercial ships reported attacks in the strait, as Iran blocked the passage in response to US and Israeli strikes.

Since then, many hundreds of ships have been unable to navigate the strait, with more than 20,000 seafarers stuck in the Gulf, according to the International Maritime Organization.

About 3,000 or so ships usually sail through the corridor each month. In 2025, about 20 million barrels of oil passed through the strait per day.

It is deep enough for the world's biggest crude oil tankers, and is used by the major oil and gas producers in the Middle East – and their customers.

Image source, Reuters

UK Prime Minister Keir Starmer has welcomed "the progress towards an agreement between the US and Iran", adding that it is "vital that Iran must never be allowed to develop a nuclear weapon".

Writing on X this morning, shortly after US Secretary of State Marco Rubio spoke in India, Starmer says: "We need to see an agreement that brings the conflict to an end and reopens the Strait of Hormuz, with unconditional and unrestricted freedom of navigation."

The PM says the UK government will do "everything we can" to protect British people from the impact of the war, adding that he would work with international partners to "seize this moment and achieve a long-term diplomatic settlement".

Katie Williams
Live reporter

Image source, Reuters

Speaking from a news conference in New Delhi a little earlier, US Secretary of State Marco Rubio addressed the latest on the Iran war.

Here's what we heard:

• Rubio said "significant progress" had been made on a potential Iran deal, but "not final progress"
• He reiterated the US position that "Iran can never possess a nuclear weapon", calling the idea that Donald Trump would agree to this "absurd"
• He hinted at good news on the Strait of Hormuz, saying that progress over the past 48 hours - if it works - could result in a "completely open strait... without tolls"
• But, Rubio said that there was still "work to do", adding that he would leave it to Trump to make further announcements - which could be coming today

Up next, it's a question from the BBC's Tom Bateman who asks about scrutiny over reports on the amount of schools that have been damaged in Iran since the outbreak of the war on 28 February.

Rubio says he's "not going to speak to military tactics, simply because that's not my department".

He says the US goals were "very clear", which were to destroy Iran's navy, its ability to launch ballistic missiles and damage its "defence industrial base".

"Those were the objectives of Epic Fury, those objectives were achieved," he says.

With that, the news conference comes to an end.

Image source, Getty Images

Rubio continues, saying that Iran can never have a nuclear weapon. This, he says, is something US President Donald Trump has been clear on.

He adds the idea that the president would agree to a deal that would put Iran in a stronger position on the nuclear issue is "absurd".

Diplomatic channels to bring about an end to the war are the US's preference, he says, adding: "I think we've made some progress."

It's possible the world will get some good news over the next few hours, "at least in regards to the strait", Rubio adds.

He caveats by saying: "We still have some work to do". There is "good news" but "not final news", Rubio says.

Marco Rubio is now addressing the Iran war - watch live above.

Asked about the status of a possible Iran deal, Rubio says "there will be, maybe, more news coming out a little bit later today" but adds that he'll "leave it to the president (Trump) to make further announcements".

He says "some progress has been made - significant progress, although not final progress".

Image source, Reuters

As the news conference with Marco Rubio is under way in India, here's a look back at what we've heard so far about a potential deal between Washington and Tehran.

US President Donald Trump said on Saturday an agreement with Iran has been "largely negotiated", which would include the reopening of the Strait of Hormuz.

He doesn't provide more details, but says "final aspects and details of the deal are currently being discussed, and will be announced shortly".

He has insisted any agreement would "absolutely" prevent Iran from obtaining a nuclear weapon.

Iranian foreign ministry spokesman Esmail Baghaei has said that US and Iranian positions had been converging in the last week, but warned that did not mean agreements would be reached on key issues and accused the Americans of "contradictory statements".

Iran's semi-official news agency Tasnim this morning reported that the Strait of Hormuz "will not return to its pre-war status" under an agreement.

Pakistan's Foreign Minister Ishaq Dar says a "positive and durable outcome is within reach" in the Iran war following the latest negotiations.

Image source, Reuters

US Secretary of State Marco Rubio is now speaking at a news conference in New Delhi during an official visit to India.

His comments are largely expected to be on his trip to India, but we're listening out for any key developments on the Iran war after Trump said a deal had been "largely negotiated".

No official agreement has yet been reached.

You can watch the news conference live above, stick with us for the latest updates.

Image source, Getty Images

Pakistan's foreign minister says a "positive and durable outcome is within reach" in the Iran war following the latest negotiations.

It follows US President Donald Trump announcing that a deal with Iran had been "largely negotiated".

Ishaq Dar, who is also Pakistan's deputy prime minister, says a phone call between Trump and representatives from Pakistan, Saudi Arabia, Türkiye, Qatar, Egypt, the UAE, and Jordan "marks a significant step" towards "regional peace".

"Pakistan remains firmly committed to supporting all sincere efforts aimed at lasting peace, mutual respect, and regional stability," he says

"The achievements of these negotiations offer grounds for optimism that a positive and durable outcome is within reach."

Image source, Getty Images

Under an agreement between the US and Iran, the Strait of Hormuz "will not return to its pre-war status" reports Iran's semi-official Tasnim news agency.

The Islamic Revolutionary Guard Corps (IRGC)-affiliated news outlet has been reporting details of the deal with the US throughout the morning, however there has been no confirmation from the US on the details of any agreement.

Tasnim reports that the strait will not return to the status quo immediately, but that the number of ships passing through the strait will be restored to pre-war levels within 30 days.

However, it adds that Iran "emphasises exercising its sovereignty over the strait".

It adds that the US' naval blockade on ships entering and exiting Iranian ports must be "completely lifted" within 30 days.

Image source, Getty Images

US President Donald Trump says an agreement with Iran has been "largely negotiated" and details will be announced soon.

In a Truth Social post on Saturday, Trump said the deal would include reopening the Strait of Hormuz.

This morning, Iran's semi-official Tasnim news agency says the Strait would return to pre-war levels within 30 days, and adds that a potential deal would see the cessation of attacks on all fronts.

We're shortly expecting to hear from US Secretary of State Marco Rubio following his meeting with India's foreign minister in New Delhi - you can watch live above once it gets under way.

Iranian foreign ministry spokesman Esmail Baghaei told state television yesterday that US and Iranian positions had been converging in the last week.

But he warned that did not mean agreements would be reached on key issues and accused the Americans of "contradictory statements".

Trump also said he had a "very good call" with the leaders of Saudi Arabia, the United Arab Emirates, Qatar, and others about a "Memorandum of Understanding pertaining to PEACE".

"An agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries, as listed," Trump said.

We'll bring you the latest developments on this story throughout the day, stay with us.