An informed source told Reuters that Iran and the United States have received a plan to end hostilities that may come into effect on Monday and lead to the reopening of the Strait of Hormuz. He added that Pakistan had prepared a framework for ending hostilities, and it was handed over to Iran and the United States overnight, explaining that it is based on a two-stage approach, and begins with an immediate ceasefire followed by a comprehensive agreement. The source told Reuters: “All elements must be agreed upon today,” adding that the initial understanding will be formulated in the form of a memorandum of understanding that will be finally completed through Pakistan, which is the only channel of communication in the talks. Trump told the Wall Street Journal on Sunday that the deadline he gave Iran to open the Strait of Hormuz or risk attacks on vital infrastructure expires on Tuesday evening. Trump told the newspaper: "If they don't do something by Tuesday evening, they won't have any power plants and they won't have any bridges standing." Economically, oil prices reduced their gains today after news of US-Iranian talks regarding a possible ceasefire, as Brent crude recorded $109.77 per barrel and US crude recorded $111.58 per barrel today.