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Tehran and Washington have played down hopes of bringing an end to the three-month-long conflict and the ongoing blockade in the Strait of Hormuz.

U.S. Secretary of State Marco Rubio said the U.S. would give diplomacy every chance before exploring "alternatives." Iran's foreign ministry, meanwhile, said that while a conclusion had been reached, the two sides were no closer to sealing an agreement.

As progress comes to a standstill, vessels remain stuck in the Strait of Hormuz. This has led to a spike in energy prices and shocked the global economy. Reuters drones captured boats stuck in the Strait.

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Vessels stuck in the Strait of Hormuz