Mediators are continuing efforts to broker a deal between the United States and Iran to end the fighting and reopen the Strait of Hormuz, even after President Donald Trump publicly rejected Tehran's latest proposal over the weekend.

Indirect talks were expected to resume Monday as the conflict enters its eighth month and the continued disruption of the Strait of Hormuz weighs on the global economy. Qatar has been serving as a mediator between Washington and Tehran.

Iran's latest proposal would reopen the strategically important waterway within seven days in exchange for the United States lifting its blockade of Iranian ports, releasing frozen Iranian assets and easing sanctions on Iranian oil sales.

Trump said Saturday that he had rejected the proposal, but officials familiar with the negotiations told The Associated Press that mediators are still working with both sides on revised terms. Two officials said the United States has not formally rejected the current draft being discussed.

Under the draft proposal, the Strait of Hormuz would be reopened through a separate arrangement Iran has been discussing with Oman. The proposed arrangement would allow shipping through the waterway without tolls, a condition Tehran has sought during the negotiations.

The United States is also seeking concessions from Iran on its nuclear program, including allowing international inspectors to return to the country. Those nuclear issues were supposed to be addressed under a memorandum reached by the two sides in June, but that agreement collapsed within days.

Officials involved in the negotiations described limited movement over the weekend. One reported positive signals from both sides, another described “slight progress,” while a third said mediators were attempting to soften the positions of Washington and Tehran.

Iranian Foreign Minister Abbas Araghchi has remained in New York following the United Nations General Assembly meetings while awaiting a definitive response from the mediators. Iranian officials have said Tehran has not received a formal U.S. rejection of the proposal.

The proposal is similar to an earlier framework discussed in June but uses a much faster timeline. Under the Iranian plan, the seven days to reopen the strait would begin once Washington accepts the terms.

The Strait of Hormuz is a critical shipping route for global energy markets, and the conflict has contributed to higher oil prices. Brent crude, the international benchmark, has risen above $108 per barrel as shipping through the region remains disrupted.

The conflict has also created additional pressure on shipping routes elsewhere in the region. Iran-backed forces in Yemen have emerged as a threat to traffic through the Bab el-Mandeb Strait, another major waterway connecting the Red Sea with the Gulf of Aden.

Trump has continued to leave open the possibility of additional negotiations despite rejecting Iran's latest proposal. U.S. officials and mediators are now working to determine whether the two sides can bridge their differences over the Strait of Hormuz, sanctions, and Iran's nuclear program.