Trump says Iran agreement could be finalized within days

President Donald Trump says a potential agreement with Iran is taking shape after two nights of military exchanges in the Middle East.

(NBC)- President Donald Trump says a potential agreement with Iran is taking shape after two nights of military exchanges in the Middle East.

There was relative calm overnight after Trump canceled another round of planned strikes and announced what he described as significant progress toward ending the conflict.

“We just made a great settlement of the war with Iran,” Trump said.

The president described the developing arrangement as a “very strong memorandum of understanding” and said it would achieve one of his administration’s primary objectives.

“They will not have a nuclear weapon, they’ve agreed to that,” Trump said.

However, Iran has not formally confirmed an agreement.

In a statement, a spokesperson for Iran’s Foreign Ministry said the country “has not yet reached a final decision regarding an agreement” and would not compromise on its “red lines.”

Despite the optimism from Washington, tensions remain high in the region.

A U.S. official said American forces shot down two Iranian drones overnight that were allegedly attempting to target commercial ships in the Strait of Hormuz.

Trump said those attacks would stop if the agreement is finalized and predicted the vital shipping route would fully reopen.

“And we’ll have oil prices dropping like a rock,” he said.

Oil prices declined following news of the potential agreement.

Trump acknowledged he has previously expressed confidence that a deal was near, but said this situation is different because of the pressure Iran has faced during the conflict.

“Because they’ve taken a pounding. They’ve taken a pounding like very few people could take, and they want to make the deal a lot more than I do,” Trump said.

The president said documents could be finalized within the next few days and predicted a formal signing ceremony could take place in Europe as early as this weekend.

Questions remain, however, about whether Iran will ultimately agree to the terms being discussed.