Iran said on Wednesday it was reviewing a U.S. peace proposal that sources said would formally end the war while leaving unresolved the key U.S. demands that Iran suspend its nuclear program and reopen the Strait of Hormuz.

An Iranian foreign ministry spokesperson cited by Iran's ISNA news agency said Tehran would convey its response. U.S. President Donald Trump said he ?believed Iran wanted an agreement.

"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," Trump told reporters in the Oval Office on Wednesday.