# America and Iran are closing in on a memorandum to end the Middle Eastern war. US media outlet Axios reports the White House believes it is closing in on a one-page memorandum to end the hostilities. The report came hours after US president Donald Trump paused a three-day-old naval mission to reopen the Strait of Hormuz. It caused global oil prices to plunge, with benchmark Brent crude futures falling more than eight-percent to around 100-dollar a barrel.
US and Iran closing in on memorandum to end war