Iran has released a Marshall-Islands flagged container ship and its crew which were seized last week in one of the world's major oil shipping lanes, the official IRNA news agency reported.

The agency reported an informed source as saying the Iranian Ports and Shipping Organization would issue a statement in a few hours on the details of the release of the Maersk Tigris.

The vessel was diverted on April 28 by Iranian patrol boats in the Strait of Hormuz, prompting the United States to send vessels to monitor the situation and to accompany U.S.-flagged vessels passing through the strait.

Danish shipping giant Maersk had insisted on the release of the vessel and its 24 crew members. IRNA report did not give details on whether a years-old debt case was settled, as demanded by Iran for the release of the ship.

Iran's foreign ministry had said on Wednesday that the negotiations between "the private complainant and the other party were going on".

The Maersk incident coincided with heightened tension between regional arch-rivals Iran and Saudi Arabia over the civil war in Yemen, in which they support opposing sides.

The U.S. Navy had quietly stopped accompanying commercial ships on Tuesday, Pentagon spokesman Colonel Steve Warren said, noting that the original order to carry out the mission had only been for a brief period, which had ended.

U.S. Navy ships started accompanying U.S.-flagged commercial vessels through the Strait on April 30, a decision taken following the Maersk Tigris' seizure and after Iranian ships shadowed the U.S.-flagged Maersk Kensington on April 24.

Maersk, the world's largest container shipping company, chartered the ship, which according to ship operator Rickmers is owned by undisclosed private investors. (Reporting by Parisa Hafezi; Editing by Toby Chopra)