President Donald Trump has announced that the U.S. and Iran could come to terms on an agreement to end the three-month-old war. The conflict has been broadly unpopular with Americans and has rattled global oil markets.

Background

Trump has been looking for a victory lap and an exit ramp from the conflict, but the two goals may not be compatible. The war began after Trump and Israeli Prime Minister Benjamin Netanyahu cited concerns about Iran’s nuclear program as the main reason for launching the war.

Iran has effectively kept the Strait of Hormuz closed, choking a waterway through which about 20% of the world’s oil supply passed before the war. The U.S. has been trying to negotiate with Iran to restart talks over its nuclear program.

Recent Developments

Trump has threatened to escalate the conflict with more intense bombardment of Iran and by seizing control of Iran’s oil industry. However, he has also expressed optimism that a deal could be reached soon. The president’s threats followed back-and-forth strikes that had rendered a temporary ceasefire agreed to in early April all but meaningless.

A spokesperson for Iran’s Foreign Ministry said that mediators were active, but nothing had been finalized to end the conflict. Trump plans to dispatch Vice President JD Vance to the signing of the agreement, if it happens.

Original reporting: Dallas TX News (HLL/CB) — read the source article.