The US and Iran are closer to extending a ceasefire and restarting negotiations about a longer team peace deal, the Associated Press reported, even as a standoff intensifies over the Strait of Hormuz.

American wallets are expected to take a blow from the Iran War as failed negotiations this weekend left no clear end in sight.

Hopes rose for renewed talks between the United States and Iran as the U.S. military said its blockade of Iranian ports was in full effect and Tehran threatened to retaliate by strike targets across t

The US and Iran are weighing a second round of peace negotiations, with Tehran considering a pause in shipments through the Strait of Hormuz to help ease the path toward further talks.

The U.S. blockade on Iranian ports and renewed Iranian threats have imperiled the week-old agreement, but regional officials said they were making progress, telling the Associated Press that the United States and Iran had an "in principle agreement" to extend it to allow for more diplomacy.

U.S. President Donald Trump is teasing the prospect of more talks with Iran, after a first round in Islamabad failed to produce a deal. CNN’s Kristen Holmes has the latest.

Donald Trump says the U.S.-Iran war is "very close" to an end amid a two-week ceasefire, as U.S. and Iranian negotiators prepare to restart peace talks Thursday.

The U.S. blockade on Iranian ports along the Strait of Hormuz has entered day two with no end in sight. CBS News Pentagon reporter Eleanor Watson has more.