The deal, not yet formally announced, outlines a six-week initial ceasefire phase and includes the gradual withdrawal of Israeli forces from Gaza and release of hostages held by Hamas in exchange for Palestinian detainees held by Israel.

The U.S. has called for a revitalized Palestinian Authority to govern both the West Bank and Gaza ahead of eventual statehood, however the Israeli government opposes that plan.

US and Arab mediators are said to have made 'significant progress' overnight toward a ceasefire deal between Israel and Hamas - to end the killing and release the hostages