The US president says a memorandum of understanding would reopen the Strait of Hormuz and lift the blockade on Iranian ports, while Iran says no final deal has been reached and Israel says any final agreement must remove enriched material

Analysts still assume that, despite the continued conflict, a deal will eventually be reached that ends the war and reopens the Strait of Hormuz.

President Donald Trump on Thursday said the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of...