Iran and the US reportedly may extend their two-week ceasefire, as diplomatic efforts to bring the two sides together for more peace talks gathered pace.

Setting the tone for those possible negotiations, US President Donald Trump said Iran’s new regime was “pretty reasonable” and suggested a deal was close.

Though opponents say Trump has repeatedly made statements painting the war as proceeding more positively than results on the ground indicate, former US Secretary of State John Kerry told Semafor World Economy that he also expected an agreement soon, saying that Trump’s decision to blockade the Strait of Hormuz would likely bring Tehran back to the negotiating table.

Stocks extended gains on Thursday, while oil prices stabilized under $100 a barrel.