Hezbollah is considering a US-Israeli ceasefire proposal, sources told CNN, as diplomatic efforts to end the conflict between Israel and the Lebanese militant group intensify.

Lebanon is considering a U.S.-backed cease-fire plan while Israel launched new strikes in the area south of Beirut. Senior Lebanon officials are reviewing the proposal and it is based on the U.N. Security Council resolution 1701,

Israeli troops have reached their deepest point into Lebanon - before being pushed back by Hezbollah militants.