US President Donald Trump on Monday said Iran faces its "last chance" to reach an agreement with Washington to reopen the Strait of Hormuz and end the five-month-old war. Speaking at the White House, Trump said he wanted to give Tehran every last opportunity before taking more forceful measures. He also claimed negotiations with Iran are "going on right now," contradicting Tehran's insistence that no direct talks are under way. Trump declared that the US military blockade would continue until Iran either made a deal or surrendered completely. His comments came as Wall Street appeared to shrug off a global slump, with investors seemingly optimistic about the prospect of a deal. Al Jazeera described the potential agreement as a nuclear deal, while other reports framed it as a broader accord to end the conflict and restore shipping through the strategic waterway.