China said it has maintained communication with all parties and “actively sought to promote reconciliation and prevent further fighting,” foreign ministry spokesperson Mao Ning said in a daily press briefing.

Late on Tuesday, both the US 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 to early restoration of peace and stability in the Gulf and the Middle East region,” Mao said.

US 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 of restrictions in the Strait of Hormuz will remain for now.