On Thursday, Iran is anticipated to provide an official reply to the most recent US peace initiative, with sources in the region indicating that both parties are progressing towards a memorandum of understanding aimed at concluding the conflict that commenced on February 28. President Trump cautioned that should Iran deny the proposal, bombing will escalate significantly. This agreement would also allow the reopening of the Strait of Hormuz, where approximately 1,600 vessels are currently stranded. Pakistan is facilitating the negotiations, while US gas prices stand at $4.48 per gallon amid the ongoing conflict.
