A “memorandum of understanding” between the two sides is under discussion. Both sides are keen to frame it as a victory.

Israeli strikes on Friday left Lebanon out of sync with a cautious optimism taking hold elsewhere in the Middle East.

© Mohammed Zaatari/Associated Press

With more than 500 ships still stranded in the Persian Gulf, pressure on the shipowners and sailors is growing by the day.

© Reuters

Since announcing a nominal cease-fire two months ago, Iran, Israel and the U.S. have remained locked in low-intensity violence that has become a new normal.

© Arash Khamooshi/Polaris for The New York Times

The amount of oil and fuel stored by businesses and governments has fallen sharply since the start of the U.S.-Israeli war against Iran.

© The New York Times

Oil prices retreated and stocks rallied after President Trump called off plans for another day of strikes on Iran, saying that a peace deal could be within reach.

© Eli Hartman/Reuters

In addition to concerns about their safety in the event of another all-out war, many Iranians worry about the country’s economy further collapsing if the conflict remains in limbo.

© Arash Khamooshi/Polaris for The New York Times