Starmer to face MPs as planning to reopen Strait of Hormuz continues amid soaring oil prices
The Prime Minister will face MPs on Wednesday as the UK works to develop a plan to reopen the vital Strait of Hormuz.
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Sir Keir Starmer will undergo his weekly grilling at Prime Minister's Questions a day after Rachel Reeves warned the economic impact of the Iran war could be "significant".
Central to that impact is Tehran's effective blockade of the Strait of Hormuz, a vital shipping route for oil and gas.
The blockade has seen oil prices soar above 100 US dollars a barrel and prompted Shell boss Wael Sawan to warn at an industry conference on Tuesday that Europe could face oil shortages by next month if it remains closed.
Donald Trump has repeatedly demanded other nations take a role in opening the strait, and the UK is currently leading efforts to formulate a plan to achieve that objective.
Read More: Trump 'proposes 15-point Iran peace plan' as he sends 3,000 paratroopers to the Middle East
In a call with Saudi Arabia's crown prince Mohammed bin Salman on Tuesday night, Sir Keir said the UK was "now working with partners on what a viable plan could look like to ensure the flow of goods through the key maritime route".
However, any deployment of naval vessels is understood to be unlikely to take place while Iran continues to threaten ships in the strait with missiles and drones.
For its part, Iran insists the strait remains open to ships not aligned with nations it deems hostile.
In a series of calls with his counterparts from other nations, Iran's foreign minister Abbas Araghchi said other ships could pass "in coordination with the competent Iranian authorities".
The country is also reported to have circulated a letter to members of the UN-backed International Maritime Organisation making the same claim.
Reports of the letter came as Mr Trump claimed during a White House press conference that Iran had given the US "a very big present" related to oil and gas, but refused to explain the nature of the gift.
Despite Iran's claims, ships continue to avoid using the strait.
Meanwhile, the US has sent mixed signals on the future course of the war.
During his press conference, Mr Trump again claimed that the war had been "won" and America had achieved "regime change", with Iran looking to make a deal.
But he is also reported to have ordered thousands of US soldiers to the region, while Iran continues to launch drones and missiles against its neighbours.
The Associated Press reported early on Wednesday that the Trump administration had offered a 15-point ceasefire plan to Iran, however Iranian officials denied any negotiations were taking place.