US Secretary of State Marco Rubio stated that US and Iranian negotiators have 'a pretty solid thing on the table' and a deal to end the war between the two countries may be reached on Monday.

'We're still a work in progress,' Rubio said during a visit to India, after President Donald Trump instructed negotiators 'not to rush into a deal.'

The reported deal involves a 60-day ceasefire extension, reopening the Strait of Hormuz, and a plan for further negotiations over Iran's nuclear program.

Oil prices fell sharply and Asian stock markets rose on Monday on hopes of an agreement.

'We have what I think is a pretty solid thing on the table in terms of their ability to open up the Straits,' Rubio said in Delhi, referring to the Strait of Hormuz.

However, he cautioned 'I wouldn't read too much into it,' adding that it takes time to hear back from Iran.

CBS News reported that US intelligence believes Iran's supreme leader, injured in an Israeli strike, is in an undisclosed location, complicating communication and delaying talks.

Iranian foreign ministry spokesperson Esmail Baghaei said the two sides are 'very close and very far' from an agreement.

According to US media, the mooted deal is not final and leaves thorny issues like sanctions relief and nuclear ambitions for later.

The deal has split Trump's Republicans: Senator Ted Cruz called it 'a disastrous mistake,' while Lindsey Graham questioned the war's purpose.

Trump responded by dismissing critics as 'losers' and insisting any deal with Iran would be 'good and proper.'

The US and Israel launched strikes on Iran on February 28, sparking conflict. Iran responded by closing the Strait of Hormuz, sending oil prices soaring.

Trump reiterated that Iran must not develop nuclear weapons and said the port blockade will remain until a deal is signed.

Source: www.bbc.com