Talks with Iran are continuing and the US "has time", President Donald Trump told reporters at the White House on Friday evening. Conflicting reports have emerged over the past 24 hours.
The war goes on, the Strait of Hormuz is closed and a naval blockade is in place. Trump has said many times that he will end the war "one way or another" after the midterm elections on 3 November.
Unnamed sources cited by a Qatari newspaper say the talks in Doha, mediated by Qatar, have reached a breakthrough. A US delegation will join the talks on direct negotiations with Iran.
Overnight, two Saudi TV channels said they have a draft proposal that the mediators are discussing. No side, including Qatar, has confirmed it.
According to the channels, Iran has committed in advance on the future of its nuclear stockpile. Under discussion are steps to reopen the Strait of Hormuz within 7 days, and daily talks between Iran and the US on confidence-building steps. The draft also sets out an agreed timetable for meeting the commitments and a possible role for China as guarantor.
The channels add that each Iranian step on its nuclear programme would be matched by a US step on sanctions. Neither side would give ground without something in return, the obligations would be clearly defined at each stage, and there would be clear procedures if Iran delays or fails to deliver.
A Lebanese newspaper close to Hezbollah reported on Saturday, citing informed sources, that Iran does not object to both sides committing to reopen the Strait of Hormuz and lift the blockade. The paper says Tehran has reservations about the clause on nuclear concessions, which would give inspectors from the International Atomic Energy Agency (IAEA) access to nuclear sites. In return, the US would lift some sanctions and release part of Iran's frozen assets.
Iran has said many times that it will negotiate on its nuclear programme only after the war is officially declared over and concrete steps are taken towards that end.
Three senior Gulf officials say the Trump administration has told allies in the region to prepare for a short, fast round of fighting, possibly as early as 4 November, the day after the elections. This week, US officials warned several Middle Eastern countries and US allies of possible new strikes on Iran after the vote. The countries were also asked to prepare for an Iranian response, with attacks on energy facilities and other critical infrastructure in the region.
Trump calls the conflict "not a typical war" and says it does not cost US taxpayers much. He claims the US has removed the nuclear threat from Iran. "I spent a lot of money to get rid of a nuclear weapon, which we did," the president said.
Earlier on Friday, in an interview with a Kansas City radio station, Trump said he is optimistic the war will end soon, but did not say how. The main US condition for ending the war remains a guarantee that Iran will never have a nuclear weapon.
Two diplomats familiar with the matter said Trump has not yet made a final decision on whether to resume strikes. He has said he will not order new strikes before the elections, but has not promised that he will not resume military action after them.