All eyes are on the Pakistani capital, Islamabad, with talk mounting about a new round of negotiations between the United States and Iran that may be held next week, in an attempt to contain the escalation and open the door to understandings related to the nuclear file and the Strait of Hormuz.

The American Wall Street Journal quoted sources it described as “informed” on Wednesday that Washington and Tehran are working with mediators to prepare a one-page framework to resume negotiations aimed at ending the dispute between them and reopening the Strait of Hormuz.

According to the sources, the negotiations, which are expected to last a month, will address the Iranian nuclear program and easing sanctions, amid continuing fundamental differences between the two parties regarding the limits of uranium enrichment, inspection mechanisms, and the sequence of implementation of commitments.

This comes at a time when US President Donald Trump has escalated his tone towards Tehran, warning that the United States will resume bombing Iran “at a much higher level and intensity” if it does not agree to the proposed agreement.

In parallel with the political movements, oil prices fell by more than 1% amid hopes for the possibility of achieving a diplomatic breakthrough, while China called on Iran to reopen the Strait of Hormuz during a meeting that brought together the foreign ministers of the two countries in Beijing.

On the other hand, Iran described the United States’ suspension of its operation to direct commercial ships through the Strait as an “American retreat,” renewing its warning to ships against crossing the Strait without its permission.

US Secretary of State Marco Rubio also called on Tehran to “make a reasonable choice” and sit at the negotiating table.