US President Donald Trump announced on June 9 that negotiations for a peace deal in the Middle East are nearing completion, describing the talks as being in the 'final throes.' This announcement follows a temporary ceasefire between Iran and Israel, who have exchanged fire despite a ceasefire that has been in place since April 8. Trump indicated that a deal could be reached in 'two or three days.' The situation escalated recently when Iran launched nearly 30 missiles at Israel, leading to Israeli military responses that resulted in at least 14 fatalities in Lebanon. Amid these tensions, Iranian officials remain committed to ongoing diplomatic discussions, with Pakistan acting as a mediator. Meanwhile, the US administration is concerned about the diverging interests of its ally Israel, as Vice President JD Vance noted that while both nations share many interests, their positions do not always align. The conflict has disrupted shipping through the Strait of Hormuz, affecting global oil prices, which saw fluctuations following the recent military exchanges.