US President Donald Trump claimed on Thursday that an initial agreement to end the war with Iran is close, following his announcement that he had cancelled scheduled strikes against the country. Trump told reporters in the Oval Office that the deal ensures Iran will never have a nuclear weapon and stated that the Strait of Hormuz would open as soon as the documents are signed. He indicated that the documents are in “pretty final shape” and suggested a signing might occur “pretty quickly,” possibly over the weekend in Europe. While Trump asserted that the arrangement has been approved by the United States and regional allies, including Israel and Gulf states, Iran’s foreign ministry spokesperson Esmail Baghaei told state TV that reports of an agreement are “speculative” and “nothing has been finalised.” Baghaei stated that while the majority of the text for the memorandum of understanding may have been finalized, the U.S. Has made “excessive demands” and “new requests.” also, the Tasnim news agency noted that Trump has announced an imminent deal 38 times in the previous two months. The Israeli prime minister’s office confirmed a conversation took place with Trump, stating that Israel is not a party to the memorandum of understanding. The office reported that Benjamin Netanyahu expressed appreciation for Trump’s commitment to a final agreement involving the removal of enriched material, dismantling of enrichment infrastructure, limits on missile production, and the cessation of Iran’s support for terrorist proxies. The conflict began on February 28 with wide-ranging strikes by the U.S. And Israel on Iran, which resulted in the death of supreme leader Ayatollah Ali Khamenei. Despite a ceasefire in April, the countries have exchanged intermittent fire. In response to recent escalations, Iran’s new body overseeing the Strait of Hormuz stated the waterway will remain closed until further notice. Following Trump’s comments, the price of Brent crude fell to about $89 a barrel.