Oil prices fell on Friday after U.S. President Donald Trump said Washington had reached a framework agreement with Iran, raising hopes that tensions in the Middle East could ease.

The U.S. denies Iran's claim to have closed the Strait of Hormuz amid a new exchange of fire, and India fumes over a U.S. strike that killed 3 tanker crewmembers.

After the US and Iran trade fresh strikes for a second night in a row, CNN’s Frederik Pleitgen and Claudia Otto speak to Mohammad Mokhber, a senior Iranian official, who says Tehran “will not back down” and war will continue unless the US respects Iran’s interests.

Foreign correspondent Trey Yingst described a call he had with the president from the White House Situation Room Wednesday night.

The U.S. launched a new barrage of strikes on Iran. Pentagon chief Pete Hegseth said the bombs were necessary to get the deal Trump wants from Iran.

Senior officials from Qatar, the UAE and Pakistan rang Trump as he was threatening to strike Iran "very hard tonight." Their assurance of a deal in reach convinced him to pull back.

Iran's Kharg Island, home to a terminal through which the country exports most of its oil, has emerged as a focus of the war launched in late February by the United States and Israel. Strikes on oil infrastructure on Kharg — or a ground invasion — would severely curb Iran's oil exports,

President Donald Trump promised more attacks on Iran after strikes resumed this week. Earlier this week, he said a deal to end the war was near.