US President Trump posted on Saturday that an agreement has largely been negotiated, subject to finalisation between the US, Iran and various Middle Eastern countries.
US and Iran were reportedly close to signing an agreement involving a 60-day ceasefire extension, which could be extended by mutual consent, according to Axios.
US senior officials said the naval blockade will only be lifted after Iran opens the Strait of Hormuz, and no funds will be released until enriched uranium is handed over.
Crude futures declined amid hopes for a US-Iran agreement after President Trump announced on Saturday that an agreement has largely been negotiated.
APAC stocks gained with risk appetite boosted; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 1.0%.
Looking ahead, holidays include cash market closures in the US and UK.
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