President Donald Trump has expressed optimism regarding ongoing negotiations with Iran, stating they are 'proceeding nicely.' However, he cautioned that failure to reach an agreement could lead to a resumption of conflict. Trump indicated that the outcome of the talks could result in either 'a great deal' or 'no deal at all,' which would escalate tensions. Iran's foreign ministry confirmed some progress but stressed that no agreement is imminent. The discussions reportedly focus on a framework that would facilitate the gradual reopening of the Strait of Hormuz, a vital oil shipping lane, while addressing Iran's stockpile of highly enriched uranium. Major uncertainties remain, particularly regarding the nuclear limits Iran might accept and the timeline for reopening the strait. Under the proposed framework, the U.S. would gradually lift its blockade of Iranian ports in exchange for sanctions relief and the release of billions in frozen Iranian assets. The next phase of negotiations will be crucial in determining whether a formal agreement can be reached, which would affect global oil markets and gas prices significantly.