The conflict between the United States, Israel, and Iran has had an immense impact on the wider world, with costs for many goods (including petrol) increasing significantly due to the closure of the Hormuz Strait.
Recently, it seemed like progress was being made in the effort to bring this conflict to an end by a ceasefire being agreed, which was backed by the United States. Seemingly, this ceasefire could lead to ongoing positive results, as President Donald Trump is indicating that the war is nearing its conclusion.
As per Reuters, Trump has commented on the recent ceasefire and how there may not be a requirement to extend the 10-day period any further.
"We're going to see what happens. But I think we're very close to making a deal with Iran."
To add to this, it's mentioned that Pakistan is involved in mediating a deal between the U.S. and Iran, and that "both sides are agreeing in principle," suggesting that significant progress is being made.
The issue that seems to be holding back any agreement is Iran's nuclear ambitions, with the U.S. asking for a 20-year suspension on nuclear activity while Iran is aiming for three-to-five years.