China hopes 'relevant parties' can grasp ceasefire

China's foreign ministry said it hoped the "relevant parties can grasp this chance at peace and bring the region back to stability as soon as possible" after the U.S. and Iran agreed to a ceasefire in the weeks-long Middle East war.



China has maintained communication with all parties and "actively sought to promote reconciliation and prevent further fighting," according to China's foreign ministry .



Late on Tuesday, both the U.S. and Iran agreed to a two-week ceasefire to the conflict that has rattled global markets and sparked geopolitical upheaval.



Beijing hoped that relevant parties would seize the opportunity for peace, "resolve differences through dialogue and consultation and work towards an early restoration of peace and stability in the Gulf and the Middle East region, the spokesperson added.



U.S. President Donald Trump vowed to retain military assets in the Middle East until a peace deal with Iran is reached and warned of a major escalation in fighting if it failed to comply with the terms of the ceasefire.



Oil prices rose again on concerns over supply and fears restrictions in the Strait of Hormuz will remain for now.