Iran Reviews U.S. Peace Proposal as Trump Signals Willingness to Wait

Iran said Thursday it is reviewing the latest U.S. proposal to end the nearly three-month war. President Trump stated he is prepared to wait a few days for the right answers before considering renewed strikes. Iran Foreign Ministry spokesperson Esmaeil Baghaei said the Islamic Republic had received the views of the American side and is reviewing them, according to the state-run agency Nour News.

Baghaei added that Pakistan continues to mediate exchanges between Tehran and Washington.

Munir is expected to travel to Iran's capital on Thursday as part of ongoing mediation talks. Iranian news outlets reported that several rounds of communication have taken place based on Iran's original 14-point framework. President Trump told reporters at Joint Base Andrews on Wednesday that he had been an hour away from deciding to attack Iran on Tuesday before postponing the strike.

He warned that if the right answers are not received, renewed attacks could follow quickly.

Oil prices traded higher in London as market participants monitored the outcome of the talks. International Brent crude futures rose 1.9 percent to $106.92 per barrel, while West Texas Intermediate futures climbed 2.4 percent to $100.59 per barrel. Iranian state TV claimed that roughly 30 more vessels transited the Strait of Hormuz on Thursday in coordination with Iran's naval forces.

The ships were said to be following routes designated by the Islamic Revolutionary Guard Corps. The move would reject one of the main U.S. demands in the negotiations.

The war began with U.S. and Israeli strikes on Iran on February 28. Around 20 percent of the world's oil and liquefied natural gas passed through the Strait of Hormuz before the conflict, but shipping traffic has virtually halted since the strikes started.

Iran's Revolutionary Guard has warned against further attacks, threatening to extend the Middle East conflict beyond the region if the U.S. and Israel resume strikes.