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Tehran put limits on the Strait of Hormuz's opening, as the United States issued a new sanctions exemption on the sale of Russian oil.
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After his election last year, Leo XIV developed a reputation as a mild-mannered mediator. President Trump's attacks have made him more combative.
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President Trump told a crowd of supporters that the price of oil and gas was coming down, part of an effort in recent days to present a rosier picture of the nearly two-month-long Iran war.
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US President Donald Trump welcomed Tehran's announcement but said the US naval blockade would continue until a peace deal was reached.
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Iranian officials did not confirm most of Mr. Trump's claims and disputed several of them.
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The Trump administration made the announcement hours after Iran said that the Strait of Hormuz was open to commercial ships.
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The meeting comes less than two months after President Donald Trump blacklisted Anthropic's Claude.
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The ceasefire in Lebanon left northern Israeli residents saying they felt betrayed, and that Hezbollah was still a threat. Opposition leaders blamed the Netanyahu government for the lack of a clear strategy that meant decisions were taken out of Israel's hands.
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The Strait of Hormuz has remained almost completely closed as the U.S. and Iran have disputed the terms of their ceasefire agreement.
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Howard Lutnick, President Trump's commerce secretary, derided Canada's trade strategy and said a North American deal needed to be reworked.
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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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The Trump administration asserts a nearly 50-year-old law requiring the preservation of federal government records is unconstitutional. Historians warn important papers could be destroyed.
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