US President Donald Trump says he has agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure.
Australia will join a snap meeting to end disruption to shipping in a critical oil corridor as the prime minister questions the value of a prolonged Iran war.
President Donald Trump, facing a war-weary American public and sliding approval ratings, has said in a speech that the conflict Iran will soon be ending.
The US president has singled out Australia for not doing more to help in the Middle East, but Albanese's government insists it hasn't received a request.
Iranian officials have denied that Iran held talks with the US, just hours after President Donald Trump claimed "very good and productive conversations".