The terms of a deal between Israel and Hamas for a ceasefire in Gaza and the release of hostages are being finalised, a Palestinian official familiar with the negotiations has told the BBC. It comes as US President Joe Biden said a deal was "on the brink" of coming to fruition, and that his administration was working urgently on the matter.

The Biden administration sees a possible Gaza truce as soon as this week, White House national security advisor Jake Sullivan told Bloomberg News on Monday, adding that there were no guarantees that the parties would agree to such a deal.

There was cautious optimism on Monday that a deal could be forthcoming on a ceasefire in the Gaza war and the release of hostages as US National Security Advisor Jake Sullivan spoke of the possibility of an agreement this week.

White House national security adviser Jake Sullivan said Monday the U.S. is “so close to a ceasefire and hostage deal” in Gaza, as President Biden races to secure an agreement on a major foreign policy objective before leaving office in a week.

A Gaza truce and hostage release deal is close and could be finalized in the final week of US President Joe Biden’s term, White House National Security Advisor Jake Sullivan said Monday. “We are close to a deal,