Iran Deal Reportedly Awaits Trump's Approval

It appears that a deal to formally extend the Iran-US ceasefire for another two months is tantalizingly close. Multiple outlets—including Reuters, Axios, and NBC News—say negotiators have hammered out a 60-day "memorandum of understanding" to open the Strait of Hormuz, extend the ceasefire, and lay the groundwork for more detailed talks on issues such as Iran's nuclear program. All three outlets say the deal awaits Trump's signature, with Axios quoting a US official saying: "The president relayed to the mediators that he wants a couple of days to think about it." Neither the White House nor Tehran has formally confirmed the existence of a 60-day MOU.

"It was already closed in Doha three days ago, now everyone is playing a game of chicken and egg," a senior Arab official tells NBC. On Wednesday, Trump reiterated to reporters that he is not in a rush to approve any deal. One snag could be the president's wish that more Mideast countries join the Abraham Accords and recognize Israel. Under the MOU, Iran would reportedly remove all its mines from the Strait of Hormuz within 30 days and reopen the waterway to unrestricted shipping. CNBC notes that the price of international Brent crude slipped 93 cents a barrel to $93.36 on Thursday afternoon, as reports of the potential deal circulated.