US-Iran War LIVE Updates: Israel's Netanyahu won't visit Washington next week, says report citing PM's office

Iran’s Oil Minister Mohsen Paknejad says Iran’s supply and distribution of fuel remains stable despite the US blockade on Iranian ports.

In comments carried by Iran’s IRIB broadcaster, Paknejad added that oil industry workers are operating around the clock to make sure there are no disruptions, Al Jazeera reported.

A White House official on Wednesday said that US President Donald Trump could extend the naval blockade of Iran for months more.

Participants at a White House meeting, which took place Tuesday and was first reported by Axios, discussed "the steps President Trump has taken to alleviate global oil markets and steps we could take to continue the current blockade for months if needed and minimize impact on American consumers," said the official, speaking on condition of anonymity.

Oil prices are hovering near their most expensive levels since the war with Iran began. The US stock market, though, continues to shrug it off and is dipping only modestly from its record heights.

Iran's Parliament Speaker, MB Ghalibaf, in an audio message, affirmed that Iran would defeat the "deceitful plan" of its adversaries and that US President Donald Trump is seeking the country's surrender through "internal discord and naval blockade", as reported by ISNA on Wednesday.

More than 1 million people in Lebanon are expected to face a food insecurity crisis in the months ahead as a result of renewed conflict and mass displacement, a global hunger monitor said on Wednesday.

A new analysis by the Integrated Food Security Phase Classification (IPC) has found that 1.24 million people will be unable to consistently meet basic food needs and will be forced to reduce the quality and quantity of foods consumed, or resort to harmful coping strategies to survive.

President Donald Trump on Wednesday told Axios that he will not lift a naval blockade of Iran’s ports until he secures a deal with Tehran to address the country’s nuclear program, extending a standoff over the Strait of Hormuz that has caused a global energy crisis.

“The blockade is somewhat more effective than the bombing. They are choking like a stuffed pig. And it is going to be worse for them. They can’t have a nuclear weapon,” Trump said.

US President Donald Trump discussed steps the US could take to prolong its blockade of Iran during a meeting with oil and trading industry executives Tuesday, as the Middle East war continues to drive up prices for crude and other commodities.

At least six ships, a fraction of the usual traffic, have crossed the Strait of Hormuz in the past 24 hours, shipping data showed on Wednesday, while the US and Iran remain deadlocked over coming to terms that would reopen the crucial waterway.

Pakistani Prime Minister Shehbaz Sharif on Wednesday said that the US-Iran war has served a serious blow to the country's economic progress made over the last two years, adding that his government will continue its efforts to help ease tensions between the two sides and restore peace in the region.

The chief financial official for the Pentagon told lawmakers that the estimated cost of the war with Iran is $25 billion.

During a hearing of the House Armed Services Committee, Jules Hurst III, the acting undersecretary of war for finances, said Wednesday that most of that money has been spent on munitions. The military has also spent money on running the operations and replacing equipment.

Skeptical Democrats confronted Defense Secretary Pete Hegseth Wednesday for the first time since the Trump administration went to war with Iran, touching off tense exchanges over a costly conflict that has been waged without congressional approval.

Israel PM Benjamin Netanyahu's office dismisses reports of his visit to Washington next week, according to Times of Israel. His office reportedly said, "no such plans are currently in place.”

Lebanese President Joseph Aoun said on Wednesday that Israel must first carry out the ceasefire agreement completely before any direct negotiations can begin, adding that Beirut is waiting for Washington to decide the date for the talks, as per AFP.

Israel "must first fully implement the ceasefire in order to move on to negotiations... Israeli attacks cannot continue as they are," Aoun said in a statement shared by the presidency. "We are now waiting for the United States to set a date to begin direct negotiations" with Israel.

US stock markets moved slightly lower on Wednesday as investors awaited the Federal Reserve’s afternoon announcement on interest rates, while oil prices continued to climb amid the ongoing war with Iran, as per AP.

The S&P 500 slipped 0.2 per cent, a day after retreating from its record high due to declines in artificial intelligence-related stocks and concerns over rising oil prices. By 9:35 am Eastern Time, the Dow Jones Industrial Average had fallen 97 points, or 0.2 per cent, while the Nasdaq Composite was down 0.4 per cent.

Israeli Prime Minister Benjamin Netanyahu is considering a possible visit to Washington, DC, in the near future to meet US President Donald Trump, according to CNN citing an Israeli source familiar with the matter.

The trip could reportedly take place as early as next week or the following week, as Trump works to push forward a broader ceasefire agreement between Israel and Lebanon. The current ceasefire, which Trump extended by three weeks, is scheduled to expire in mid-May.

As the war in Iran enters its ninth week with no clear end in sight, maritime traffic in the Persian Gulf and the Strait of Hormuz has been significantly transformed, causing serious disruptions to global supply chains and markets for oil, natural gas, fertilisers, and other key commodities, reported CNN.

According to Lloyd’s List Intelligence, around 3,000 vessels normally passed through the Strait of Hormuz each month before the United States and Israel carried out attacks on Iran in late February.

German Chancellor Friedrich Merz said on Wednesday that his relationship with US President Donald Trump remains “good", despite Trump criticising him in a Truth Social post a day earlier, as per CNN.

Speaking to reporters in Berlin, Merz said that from his perspective, his personal ties with the US president continue to be positive. However, he added that he had reservations from the very beginning about the developments surrounding the Iran war.

“From my perspective, my personal relationship with the US president remains good. I’ve just had my doubts from the beginning about what was started there with the Iran war,” Merz stated.

A UAE official told CNN on Wednesday that the United Arab Emirates is currently “not considering” withdrawing from any other multilateral organisations following its earlier exit from the oil cartel, the Organization of the Petroleum Exporting Countries (OPEC), reported CNN.

The official clarified that, despite leaving OPEC, the UAE has no plans at this time to step away from other international groupings or alliances.

A strike by Israel in southern Lebanon killed two siblings, one of whom was a Lebanese soldier who was off duty at the time, according to the Lebanese army, as per CNN.

Despite an existing ceasefire, Israel has continued carrying out attacks in Lebanon. Prime Minister Benjamin Netanyahu has said that the terms of the truce permit Israel to conduct strikes across the country while targeting the Iran-backed group Hezbollah.

French energy giant TotalEnergies will not restart its production operations in the Middle East until there is clear and lasting stability in shipping through the Strait of Hormuz, its CEO said on Wednesday, reported Reuters.

“We will wait for a real stabilisation in the Strait of Hormuz before restarting operations,” CEO Patrick Pouyanné told analysts after the company announced its first-quarter results. He added that restarting production at the oil fields would take around two to three months once conditions improve.