The United States (and the other western powers) are desperate for Arab-Israeli peace. Not merely for the end of hostilities, but for the Arabs and Israelis to become friends. Russia and Iran and troublesome for the rest, and an Arab-Israeli alliance (or at least, block of friends) would be a serious counterpoint to the Iranians and the Russians, but would not be a threat to the west.
However very few Arabs or Israelis support the idea of Arab-Israeli peace. Most non-hareidi Israelis are aghast are the prospect of having to become part of the Middle East (consider the codes of dress and sexual behavior in the Middle East, and imagine Tel Aviv having to avoid insulting the Muslims. Most leaders in the Middle East are concerned that peace could lead to democracy, and if you are a dictator a foreign war is always preferable to a free election. The west desperately wants to believe in a “peace process” even if most Israelis and Arabs prefer the current status quo of a low level conflict.