Israel and Hamas are finalizing the terms of a ceasefire agreement, which could be announced as early as today, according to the Wall Street Journal, citing Arab and Israeli officials.

“The agreement terms between Israel and Hamas, including a ceasefire, could be announced as soon as Tuesday,” the report highlights, citing officials from both sides.

According to the same sources, the two parties have agreed on the most critical aspects of the deal but are still ironing out specific phrasing. At the same time, they have warned that the negotiations could collapse, as has happened on multiple occasions over the past two years.

On Monday, the Walla news agency reported, citing well-informed sources, that Israel and mediators had reached an agreement on the proposed plan concerning the settlement of the Gaza Strip and the release of hostages. Al Arabiya television, citing its own sources, reported that Hamas submitted a response to the proposed Gaza Strip agreement, which included no additional comments.