Keir Starmer to travel to Middle East today to meet allies amid last-minute Iran ceasefire

This morning, as he readied himself to jet off to the region, the Prime Minister vowed Britain would "do all we can to support and sustain this ceasefire."

Sir Keir added: "I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world.

"Together with out partners we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and re-open the Strait of Hormuz."

The Prime Minister's upcoming trip to the Middle East was planned ahead of the ceasefire deal announcement, it is understood.

In a meeting with leaders across the Middle East, the PM will double down on support for a "diplomatic and lasting" resolution to the conflict engulfing the region since the end of February.

Sir Keir's first stop on his trip abroad will be to "thank the UK and local personnel who have bravely put their lives at risk in the defence of our people", No10 said.

Downing Street will lead talks to ensure the permanent reopening of the Strait of Hormuz - a key maritime passage which had been brought a standstill by Iran as part of retaliatory efforts against the West.

The waterway's standstill sent fuel prices soaring and subsequently caused a headache for both Rachel Reeves and Ed Miliband as critics called for drilling in the North Sea.

As a result, fractures within Sir Keir's top team began to present themselves over recent weeks.

Mr Miliband, as part of the party's Net Zero drive, has warned against overreliance on fossil fuels, but has recently fallen under increasing pressure to cave to pressure from rising fuel costs due to the Iran war.

Meanwhile, Ms Reeves said Labour would back oil and gas "for decades to come" and said the Iran conflict showed that "we have got to take control" of British energy supplies.

But now that the 47th President announced a last-minute ceasefire deal with Iran - mere hours after threatening to wreak havoc on the nation's "whole civilisation" - oil prices have taken a dip.

In a social media post late on Tuesday night, the President confirmed that he would hold off on wiping out the country for two weeks - with some conditions.

"Subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks," he said.

"This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all military objectives, and are very far along with a definitive agreement concerning long-term peace with Iran, and peace in the Middle East."

As a result, oil prices have dropped just as stock markets have risen after the dramatic announcement late last night.

Oil has plummeted by 14 per cent, dropping to $94 from $100 for a barrel of benchmark Brent crude.

2025 prices for a barrel of oil, however, were far lower, at around $69.