President Donald Trump stated on Friday that a peace deal with Iran could be signed as soon as this weekend, while Iran's Foreign Ministry spokesperson Esmaeil Baghaei said no final decision had been made.

How this affects you

A potential peace deal between Iran and the United States, if finalized, could significantly reduce geopolitical tensions in the Middle East and lead to a decrease in global energy prices by ensuring the free flow of shipping through the Strait of Hormuz. However, ongoing disagreements, including Iran's denial of a final decision and continued military incidents in the Strait, suggest that a resolution is not yet certain.