An Iranian peace deal reportedly imminent.

I'm Jack Callahan.

Fox News.

A memorandum of understanding said to be 95% there, as Fox's Ashley Webster reports from Tel Aviv.

According to Axios, both countries will sign a memorandum that essentially would create a 60-day ceasefire and it could be extended as well during the

period the strait of hormones would be open with no tolls and iran would agree to clear the mines

that it has deployed in that critical waterway in exchange the u.s would lift its blockade on

arraini imports and issue some sanctions waivers to allow Iran to sell oil freely, which

it hasn't been able to do. As for the lifting of sanctions and unfreezing assets, the U.S.

reported he says it would only happen after tangible concessions are made by Tehran.

Iran claims its nuclear program is not part of the negotiations, but the White House says

no dust, no deal,

and warns they could resume military strikes. Iran has consistently refused calls to end its

nuclear program. 50,000 Southern California residents still away from their homes, as a chemical

tank is still at risk of exploding. Fox's Max Gordon is in Los Angeles. Fire officials say they found a crack in the tank.

While it's a sign that the tank is structurally failing, fire officials say it's also relieving

pressure inside. The tank contains methyl methamacrolate used to manufacture acrylic plastics like

plexiglass. The chemical is highly flammable and the tank in question currently holds about 7,000 gallons of it.

Firefighters have been trying to lower the temperature of the overheated tank by pouring water on it and have constructed containment barriers.

They've also unloaded or neutralized chemicals in nearby tanks.

This is happening at GKN Aerospace in Garden Grove, California, just about five miles distance from Disneyland.

The company produces airplane parts.

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