The White House faced questions about what specifically has changed as the president has claimed to be close to an agreement many times since April.

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

The rapidly shifting rhetoric has roiled markets as traders search for signs that a deal may be near. | World News

US president says agreement close as Strait of Hormuz tensions linger