Welcome to meet the press now. I'm Kristen Welker in Washington, where the Trump administration is waiting for Iran to respond to its latest peace proposal.

As President Trump insists Iran wants to make a deal

to end the war. And as we're now learning new details about the president's abrupt reversal on his

plan to help guide ships through the Strait of Formuz. This latest round of negotiations comes,

as President Trump has claimed for months now that Iran is eager to make a deal to end the war.

But they're tough and they want to fight. And they're calling. They're saying, how do we make a deal?

They called. I didn't call. They called. They want to make a deal so badly. You have no idea how badly they

want to make a deal. They are begging to make a deal, not me. They're begging to make a deal so badly. You have no idea how badly they want to make a deal. They are begging to make a deal,

not me. They're begging to make a deal. They're begging to make a deal. They're begging to make a deal.

They'd like to make a deal very badly. I mean, Iran is dying to make a deal. I can only tell you

that. Doing very well with regard to Iran. Again, they want to make a deal. They're decimated. They want to make a deal. We've had very good talks over the last 24 hours. And it's very possible that we'll make a deal.

Now, a spokesperson for Iran's foreign ministry telling state TV that Tehran is still reviewing the latest proposal and has yet to reach a conclusion and has not given the U.S. its response.

But just moments ago, that same spokesperson said a new framework would be adopted for negotiations and for the time being Iran will not enter into nuclear issues.

We're still reporting to try to get to the bottom of exactly what that means.

As for the president's sudden decision to pause the U.S. operation to help ships transit through the Strait of Hormuz,

we're now learning the decision was made after backlash from key allies in the region,

including Saudi Arabia, which responded by

suspending the U.S. military's ability to use its bases and airspace to carry out the operation.

Meanwhile, transit through that critical waterway continues to remain at a near standstill.

Not a single ship has transited the straight over the last two days, according to analysts at S&P.

Oil markets continue to await the prospects of a peace deal.

Crude oil is below $100 a barrel, though still significantly higher than before the war began.

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