Both sides want a deal but are holding out on final terms: Strait of Hormuz reopening details, unfreezing of Iranian assets, and nuclear stockpile disposition.

Even with skirmishes (US firing on missile sites, Iran retaliating), the trend is toward a deal, though timing is uncertain.

Israel's deeper incursion into Lebanon is a complicating factor since Iran wants a ceasefire on all fronts including Lebanon, but Iran hasn't complained much and may be using Hezbollah to squeeze better terms from the US.

It's unclear if this is seen as a separate front or connected to US-Iran talks.

On frozen assets: US downplaying it due to domestic politics; Iranian media talks of $12B released upon interim deal, another $12B later. On nuclear: negotiating stockpiles of highly enriched uranium; US wants destruction/dilution/removal, Iran reluctant but signals movement. Future enrichment only discussed after interim deal.

The nuclear issue is huge and complicated, deferred to later negotiations.