The latest flare-up in fighting happened less than a day earlier, when the US and Iran traded strikes.The memorandum makes clear that Iran will not be able to impose tolls on the Strait of Hormuz and that Iran will have to remove all mines from the vital waterway within 30 days, according to the official, who was not authorised to comment publicly and spoke on condition of anonymity.According to four sources familiar with the matter, the agreement would extend the truce by another 60 days and allow traffic to flow through the strategic waterway while negotiators tackle difficult issues such as Iran's nuclear program.During the war, Iran has effectively closed the strait, which had been the conduit for about a fifth of the world's oil and natural gas trade The US would also agree to relax sanctions, allowing Iran to sell more of its oil.A second US official, who also spoke on condition of anonymity to discuss the private diplomacy, said the broad outlines of an agreement have been reached but stressed that until Trump signs off on it, there is no deal