US Iran war LIVE updates: On February 28, the US and Israel bombed Tehran and assassinated their top officials. Iran responded with missile and drone attacks on Israel and US bases across the Gulf. It also moved to disrupt shipping in the Strait of Hormuz.

The conflict involving Iran, the United States and Israel has entered a volatile phase marked by hardening positions and continued diplomatic manoeuv

Iran’s Foreign Minister Abbas Araghchi is expected to meet Russian President Vladimir Putin as stalled US-Iran peace talks raise fresh tensions. Meanwhile, Brent crude prices climbed to $107.55 a barrel amid concerns over limited Strait of Hormuz shipments and uncertainty in the Middle East energy market.

The White House has reportedly received the proposal, but it is unclear whether the Trump administration would be willing to consider and explore it.

Each side is betting it can last longer than the other, analysts say. But there are risks in a stalemate without a deal.

A United States naval blockade on Iran is strangling the Islamic Republic’s main economic corridors – leaving Tehran facing a looming oil storage crisis and its citizens grappling with rising food prices and surging unemployment.

The market seems mostly unfazed by the latest flare-up in the Middle East. Here's what investors need to know.