US media reports the country is nearing an agreement with Iran through a memorandum aimed at ending hostilities and establishing a framework for nuclear negotiations.
Shipping company owners state the Strait of Hormuz remains extremely dangerous despite President Trump's announcement of an operation to assist vessels through the area.
President Macron states France will not participate in an "unclear" operation in Hormuz, arguing US-Iran coordination is the only solution to reopen the strait.
40 member states of the International Maritime Organization back plan to evacuate hundreds of commercial vessels and sailors stranded in the Gulf due to the Iran conflict.