Here's the latest
• Deadline postponed: US President Donald Trump told CNN there are 15 points of agreement between the US and Iran after talks this weekend. He announced he will hold off strikes on Iranian power plants for five days, after earlier threatening attacks if Tehran did not reopen the Strait of Hormuz within 48 hours.
• Iran’s denial: Iran’s foreign ministry said there was “no dialogue” between Tehran and Washington, according to state affiliated media. Separately, the semi-official Fars News Agency, citing what it described as informed Iranian sources, said plans are being prepared for potential actions targeting Tel Aviv and some regional allies of the US and Israel.
• Growing toll: The number of people reported killed in Iran and Lebanon since the start of the conflict is now in the thousands.
• Markets react: Oil prices dropped following Trump’s statement and Asian markets rallied early Tuesday.
Sirens sounded in the Gulf overnight. What you need to know
Some Gulf countries warned of missile attacks from Iran overnight. Here is the latest:
Kuwait:
Kuwait’s army said early Tuesday its air defense systems were intercepting missiles from Iran for the second time since midnight.
Earlier, the country’s electricity ministry said seven power lines around the country had been taken out of service due to damage from falling debris following air defense interceptions, Kuwait’s state news agency reported.
Bahrain:
Bahrain’s Interior Ministry warned several times late Monday and into early Tuesday that sirens had been sounded and urged the public to “remain calm and head to the nearest safe place.”
Saudi Arabia:
The kingdom’s defense ministry wrote on X that it had intercepted and destroyed several drones overnight.
Four-day work weeks and cash subsidies: How Asia is managing the oil crisis
Countries across Asia are imposing new measures to save on fuel and mitigate the economic fallout of the war in Iran, now more than three weeks in.
- In South Korea, President Lee Jae Myung urged the country on Tuesday to join an energy saving campaign, including public institutions cutting back on operating passenger cars, according to Reuters. He also called the government to quickly pass a supplementary budget to help residents affected by rising costs.
- In Japan, Prime Minister Sanae Takaichi announced on Tuesday the country would start releasing oil from joint stockpiles held by producing nations by the end of March, Reuters reported. Japan already began releasing 15 days’ worth of private-sector oil stockpiles last week, she said in a post on X.
- In New Zealand, the government announced Tuesday it will provide $50 a week to about 143,000 low-to-middle income working families, citing the war as driving up fuel prices and adding “pressure to household budgets.” The subsidies will begin from April 7, and last about a year or until the price of 91 octane petrol drops below 3 Australian dollars a liter for four consecutive weeks.
- In Sri Lanka, authorities have declared every Wednesday a public holiday for all government institutions, including schools, universities and the judiciary – though essential services like hospitals and customs are exempt. This four-day work week aims to “proactively manage energy resources and maintain state services” during the Iran war, it said.
Debris from interceptions fall in southern Israel
Search and rescue forces are heading to several sites in southern Israel where debris from intercepted projectiles fell early Tuesday, according to the Israel Defense Forces.
Warnings about a launch from Iran came shortly after dawn, around 6:17 a.m., with sirens ringing in Be’er Sheva, Arad, and other southern cities, according to Israel’s Home Front Command.
Several fragments fell in Be’er Sheva, according to Magen David Adom, Israel’s emergency response service. A police spokesperson said bomb disposal experts are now searching the Negev desert region for fallen debris.
No injuries were reported so far, but the IDF was urging the public to avoid gathering near impact sites.
China limits fuel price hike as global prices surge
China has taken the rare step of adjusting its fuel pricing mechanism to limit the impact of rising global oil prices on its market.
The country’s top economic planner raised the ceiling for domestic gasoline and diesel prices as of midnight but said on Monday it was taking “temporary regulatory measures” to limit the increases.
The move is the first time China has made such an intervention since its pricing mechanism for refined oil products was introduced more than a decade ago, state news outlet Xinhua said.
Maximum retail prices on gas and diesel prices were raised by 1,160 yuan (about $168) and 1,115 yuan (about $162) per metric ton, respectively, as opposed to the 2,205 yuan (about $320) and 2,120 yuan (about $308) hike that would have been implemented without the intervention.
The price hike is still the largest fuel price adjustment on record, according to data cited by Reuters.
The move was meant to “cushion the shock from this abnormal rise in international oil prices, ease the burden on downstream users, and ensure stable economic operation and people’s livelihoods,” the National Development and Reform Commission said in its announcement.
NDRC official Lv Zhichen called the move a crucial part of “safeguarding” China’s economy in an interview with Chinese state broadcaster CCTV, adding that if the global crude oil prices keep rising sharply, Beijing could introduce fiscal and tax support policies to stabilize supply.
Some context: As part of a broader push to tighten its national security, Beijing in recent years has sought to cushion itself from oil shocks by stockpiling crude reserves, diversifying imports and investing billions in clean energy such as wind, solar and electric vehicles.
CNN’s Joyce Jiang contributed reporting.
Oil prices recovered slightly after Trump's about-face. Here's the latest
US President Donald Trump’s about-face on his ultimatum for Iran has taken the heat off oil prices – even as Tehran denied his claims that the two countries had spoken.
The five-day pause on Trump’s strike threat has given some breathing space for potential talks, though Iran and Israel are still trading strikes while violence against Palestinians rises in the occupied West Bank.
Here’s what to know on Day 25:
- Trump postpones threat: Trump paused his threat to strike Iran’s power plants for five days after he claimed the US and Iran reached “major points of agreement” in talks over the weekend – though it’s not clear who the US is negotiating with within the Iranian leadership.
- Iran’s denial: Iran’s foreign ministry said there was “no dialogue” between Tehran and Washington, according to state affiliated media. They dismissed Trump’s claim as an attempt to lower energy prices and buy time for his military plans. One senior military adviser to the supreme leader said the war will continue until Tehran receives full compensation for damage it has sustained.
- Israel’s response: Israeli Prime Minister Benjamin Netanyahu said Trump believes there is an opportunity to turn military gains into an agreement that would “safeguard our vital interests.” However, Netanyahu said Israel will continue attacks in Iran and Lebanon.
- Markets react: Asian stocks rallied Tuesday and global oil prices plummeted after Trump’s announcement – offering relief after several days of climbing oil prices and turbulent markets.
- Iran plans strikes: Tehran is planning for potential military action targeting Tel Aviv and some regional allies of the US and Israel, Iran’s semi-official Fars News Agency reported Monday, citing what it described as informed Iranian sources.
- West Bank violence: Israel is diverting a combat battalion from its northern border with Lebanon to the occupied West Bank amid a wartime surge in settler violence against Palestinians, according to an Israeli military official.
Child rescued from damaged building in Iran
A video by the Iranian Red Crescent shows rescue workers rescuing a child from the site of a residential building which the aid agency says was struck in Tehran Monday.
The footage shows workers pulling the child through the window and escorting him safely to the ground, which is covered in rubble. The Red Crescent had previously said it was searching for a child “beneath the debris of a residential building.”
The Israeli military said Monday it was conducting strikes on regime targets in the “heart of Iran.” Several locations across the Iranian capital were targeted, according to Iran’s semi-official Fars news agency.
Asian markets rebound after Trump says he's holding off striking Iran's power plants
Asian stocks rallied early Tuesday after President Donald Trump announced he was postponing strikes against Iranian power plants.
Japan’s benchmark Nikkei 225 index was up 0.9% as of 10:40 am local time Tuesday, and Sout Korea’s Kospi rose 1.1%. Hong Kong’s Hang Seng index gained 1.4%.
Still, stocks and oil prices remain volatile as the war with Iran continues, deepening fears of an energy crisis among Asian countries, which are highly dependent on oil and gas imported from the Middle East and shipped through the Strait of Hormuz.
See how the closure of the Hormuz strait threatens supply chains globally
While the Strait of Hormuz is vital to the global energy supply, its closure also threatens Gulf countries that rely heavily on imported food. CNN’s Nic Robertson got exclusive access to Jeddah Islamic Port on the Red Sea where officials say cargo could increase by 50% over the next month as shippers are forced to reroute.
While the Strait of Hormuz is vital to the global energy supply, its closure also threatens Gulf countries that rely heavily on imported food. CNN’s Nic Robertson got exclusive access to Jeddah Islamic Port on the Red Sea where officials say cargo could increase by 50% over the next month as shippers are forced to reroute.
Trump says postponing Hormuz deadline for Iran
US President Donald Trump said that renewed discussions with Tehran began soon after he threatened to bomb Iran’s energy infrastructure. Then he said he would postpone the strikes, which sent stocks soaring and oil prices falling, but Tehran rejected Trump’s claims, saying there were no negotiations with the US, according to state-run media.
Read more details here about how the US president shifted from threatening attacks on power plants to touting peace.
See how Israeli strikes have impacted southern Lebanon
Israeli strikes have killed at least 1,000 people, including more than 100 children, since the bombing campaign began earlier this month.
Here’s a look at the impact on people in a town in southern Lebanon.
Why some Iranians think the war is a "brutal necessity"
CNN’s Leila Gharagozlou reports that some Iranians think this war is “a welcome, if not brutal necessity.” Here’s why:
CNN spoke with Iranians who shared divided views about the war as it enters its fourth week. CNN’s Leila Gharagozlou reports what’s behind the reasoning for citizens who say “This war must continue,” while others who oppose the US and Israel’s intervention assert “these are our issues” that “we must solve ourselves.”
Cluster missile from Iran hits city near Haifa, Israeli says
A cluster missile from Iran hit the city of Nesher, near Haifa, according to the Israeli military.
Damage can be seen at the impact site, though no injuries have been reported, according to Israel’s emergency response service. See the aftermath footage below.
