Donald Trump has claimed there have been talks between the United States and Iran over the past day in which the two sides had “major points of agreement”, appearing to avert a potentially severe escalation of the conflict.

Tehran has denied the claim, in which Trump also speculated that a deal could soon be done to end the war. Iran’s foreign ministry spokesperson said no talks had been held with the US since the bombing campaign began 24 days ago.

Trump’s threat at the weekend to “hit and obliterate” Iran’s power stations and energy infrastructure if Tehran did not allow shipping to move freely through the strait of Hormuz, and Iran’s threat to destroy infrastructure across the Middle East in retaliation, had raised fears of a deepening conflict and global economic crisis.