Israel launched a series of strikes on Iran, amid talks on ending the war, with no signs of diplomatic progress or Iran backing down.

Israel launched a new wave of strikes on Iran on Friday after US President Donald Trump claimed talks on ending the war were going well and gave Tehran more time to open the Strait of Hormuz, though there have been no signs of Iran backing down. With stock markets reeling and economic fallout from the war extending far beyond the Middle East, Trump is under growing pressure to end Iran’s chokehold on the strait, a strategic waterway through which a fifth of the world’s oil is usually...