President Donald Trump says the U.S. is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in Europe as soon as this weekend.

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

U.S. President Donald Trump on Thursday announced a 'great settlement' with Iran to end the Middle East war, saying he expected a deal to be signed in...

President says final agreement could be signed this weekend