DUBAI - An unknown projectile hit a cargo ship in the Strait of Hormuz, a key point of tension in the US-Iran conflict, on Tuesday as President Donald Trump insisted the waterway could reopen within hours.

Speaking from the White House on Monday, the US leader continued his now familiar combination of bullish optimism about diplomacy and bellicose threats, warning that this was Iran's "last chance before decapitation". Tehran and Washington have been at war since February 28, when the US and Israel launched surprise attacks on Iran. Despite a ceasefire and a preliminary deal in the months since, diplomacy has failed to end the war. The Strait of Hormuz, a key conduit for global oil and gas supplies, has been the spark for repeated returns to fighting. Iran wants to maintain control over and charge tolls for the strait, powers it did not exercise before the war and which the US fiercely opposes. In what has become a regular pattern, Trump last week threatened to hit Iran "very hard" -- potentially with attacks against civilian infrastructure -- only to pull back on Saturday, saying the "perimeters" of a deal were in place. On Monday, he said he had agreed to continue to pursue talks with Iran at the request of Saudi Arabia, the United Arab Emirates, Qatar and other countries. But Iran's foreign ministry denied that negotiations with Washington were taking place, even as Trump insisted they were. "We are talking right now", the US president said. The talks are focused on reopening Hormuz, which Trump said could come "literally by tomorrow", and the denuclearisation of Iran, which he said could "take a little while". (Bssnews)