The United States and Iran are engaged in indirect talks aimed at developing a framework for a possible agreement, Iran's ISNA News Agency reported.
According to the report, the two sides are currently exchanging messages and draft texts.
An Iranian official earlier told Al Jazeera that negotiators were "very close" to reaching an understanding.
The report also said that intensive mediation efforts are underway, with Mohsin Naqvi currently in Iran to discuss the status of the Strait of Hormuz.
However, Al Jazeera noted that it is still too early to determine whether a final agreement is within reach.
The United States and Iran are engaged in indirect talks aimed at developing a framework for a possible agreement, Iran's ISNA News Agency reported.
According to the report, the two sides are currently exchanging messages and draft texts. An Iranian official earlier told Al Jazeera that negotiators were "very close" to reaching an understanding.
The report also said that intensive mediation efforts are underway, with Mohsin Naqvi currently in Iran to discuss the status of the Strait of Hormuz.
However, Al Jazeera noted that it is still too early to determine whether a final agreement is within reach.
The talks come at a critical juncture as the US has coughed up much of its advanced missile defence interceptors' inventory after burning the candle at both ends for defending Israel using munitions as compared to Israel itself in its war with Iran, The Washington Post has learnt.
Oil prices rise
Oil prices climbed on Friday as investors doubted the prospects of a breakthrough in US-Iran peace talks, with the two sides still at loggerheads on Tehran's uranium stockpile and controls on the Strait of Hormuz. The market, however, remained headed for a weekly loss.
A senior Iranian source told Reuters no deal has been reached with the US, but the gaps have narrowed, while US Secretary of State Marco Rubio said there had been "some good signs" in talks, but any toll system in the strait would be unacceptable.
Brent crude futures rose $2.38, or 2.3%, to $104.96 a barrel by 0034 GMT, and US West Texas Intermediate futures were up $1.73, or 1.8%, at $98.08.
Both benchmarks declined about 2% on Thursday to their lowest closes in nearly two weeks.
