US and Iran are reportedly nearing a deal to reopen the Strait of Hormuz, with senior American officials indicating progress despite President Trump's caution against rushing. Negotiations are ongoing regarding the precise language of key issues, with a potential agreement requiring final approval from both sides.

US President Donald Trump flagged progress in talks with Iran, Tehran has warned that major gaps still stand in the way of dialing down the conflict.

But the unnamed official cautioned that “last-minute disputes” could blow up efforts to secure a peace deal.

President Trump announced a "largely negotiated" deal with Iran concerning the war and the Strait of Hormuz, following calls with regional allies. The "Memorandum of Understanding…