President Trump said Wednesday that negotiations with Iran may be approaching a breakthrough, though he warned that military measures remain on the table if Tehran refuses to compromise on key issues tied to its nuclear program and regional shipping routes.

“We’re in final stages of Iran,” he told reporters at Joint Base Andrews. “We’ll see what happens. Either [we] have a deal or we’re going to do some things that are a little bit nasty, but hopefully that won’t happen.”

Following Trump’s remarks, oil markets reacted sharply, with global crude prices dropping more than 5%. In the United States, oil traded below the $100-per-barrel mark, settling at $98.94 — the steepest one-day decline in two weeks.

Sources in Pakistan told The Post that officials there are assisting Washington and Tehran in preparing a letter of intent meant to pave the way for another round of diplomatic discussions. The proposed framework would outline the major topics for negotiation. Trump has previously said talks could be held in Islamabad if Iran agrees to discuss ending its nuclear pursuits and reopening the Strait of Hormuz.

Efforts to restart negotiations have been bogged down by disagreements surrounding Iran’s nuclear activities and the future of maritime traffic through the strategically vital Strait of Hormuz.

Trump has maintained that no second round of negotiations will take place unless Iran backs away from its insistence on preserving uranium enrichment rights.

Later Wednesday, the president emphasized that developments could unfold rapidly.

“It could go very quickly, or a few days, it could be a few days, but it could go very quickly,” he said after he gave the commencement address at the Coast Guard Academy.

He described the situation as “very right on the borderline. Believe me, if we don’t get the right answers, it goes very quickly. We’re all ready to go. We have to get the right answers. It would have to be a complete 100% good answers.”

At the same time, Trump signaled he is still prepared to allow diplomacy more time before authorizing another military operation.

“If I can save people from getting killed by waiting a couple of days, I think it is a great thing to do,” Trump noted.

Reports from regional news outlets claimed Wednesday that a diplomatic understanding could emerge within “hours,” and suggested Pakistani Field Marshal Asim Munir may travel to Iran as early as Thursday to personally urge Iranian officials to finalize an agreement if talks remain stalled.

However, a Pakistani government source cast doubt on those reports, describing them to The Post as “speculative.”

Officials familiar with the discussions indicated that any current “deal” would not represent a finalized peace settlement, but rather a mutual commitment by Iran and the United States to seriously pursue negotiations aimed at ending the conflict.

Trump has repeatedly stated that preventing Iran from obtaining nuclear weapons remains a non-negotiable condition and that he wants such guarantees formally documented as part of any agreement.

Iranian leaders, however, have thus far rejected even preliminary discussions on abandoning their nuclear activities, insisting their program is intended solely for peaceful energy purposes.

Another major obstacle remains the Strait of Hormuz. Iran views the waterway as falling under its territorial authority and has pushed for imposing tolls on commercial shipping passing through the route. As a result, cargo ships and oil tankers continue waiting offshore while the passage remains shut down.

In response, the US military has implemented a blockade targeting Iranian ports, a strategy Pentagon officials reportedly view as one of Washington’s strongest pressure points against Tehran.

The ongoing confrontation over the strait could also carry major global economic consequences. On Wednesday, the United Nations’ Food and Agriculture Organization warned that prolonged disruption could spark a worldwide food-price emergency within the next six to 12 months if swift action is not taken.

“The window for preventive action is closing quickly,” the agency said.

Food costs have already begun climbing, and officials warned that poorer nations throughout Asia, Africa, and Latin America may suffer the most severe effects because many rely heavily on nitrogen fertilizer imports from the Middle East.