And the crisis is poised to worsen as global crude oil inventories are depleting at a record pace. The latest: Futures prices from the global benchmark Brent crude are back under

The president said on his social media platform Truth Social on Saturday that an agreement between the US, Iran and several other countries in the region had been “largely negotiated” and that final details would be announced soon.

A “largely negotiated” memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, President Donald Trump said today, although the Iranian Fars news agency disputed that claim.

The United States and Iran could strike a deal to end the Middle East war as early as Sunday, Washington's top diplomat said, while Tehran insisted the agreement would do nothing to limit its nuclear programme.

The US and Iran have agreed in principle to a deal that will reopen the Strait of Hormuz and see Tehran surrender its stockpile of highly enriched uranium, a US official has said.

Tensions between the US and Iran continue as reports of a potential nuclear deal face strong resistance from Tehran. While American media and officials have claimed that an agreement is nearly finalized—awaiting only a formal announcement—Iranian media has firmly denied key conditions of the proposed deal.

U.S. ⁠President Donald ⁠Trump said on ​Saturday that a memorandum ‌of understanding on ‌a ⁠peace ⁠deal has been "largely negotiated" with Iran ​and will open the Strait ​of Hormuz, with details ⁠to be ⁠unveiled soon.

Trump said on Saturday that a deal would include the reopening of the Strait of Hormuz, without giving further details.