(AL-JAZEERA) United States President Donald Trump told reporters on Thursday that he believes the war on Iran is nearing an end, promising that petrol prices will drop when the conflict is over.

Citing an unnamed lawmaker, Iran’s Fars news agency reported that an Iranian parliamentary committee is reviewing a preliminary bill that would bar US, Israeli and other “hostile” vessels from transiting the Strait of Hormuz.

On Thursday, Iran and Oman said they had agreed on coordinates for shipping routes through the strait, whose closure has triggered a global energy crisis. The two are currently engaged in talks to resolve disagreements between the US and Iran over how the strait should be controlled. It is hoped that once these are resolved, broader peace talks between the US and Iran can continue.