Progress made in N-talks with US: Iranian Foreign Min

Iran and the United States reached an understanding Tuesday on main “guiding principles” in talks aimed at resolving their longstanding nuclear dispute, but that does not mean a deal is imminent, Iranian Foreign Minister Abbas Araqchi said.

- REUTERS

Oil futures fell and the benchmark Brent crude contract tumbled more than 1% after Araqchi’s comments, which helped ease fears of conflict in the region, where the US has deployed a battle force to press Tehran for concessions.

“Different ideas have been presented, these ideas have been seriously discussed, ultimately we've been able to reach a general agreement on some guiding principles,” Araqchi told Iranian media after the talks concluded in Geneva.

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