Iran says no 'tangible progress' in war talks

Iran’s Foreign Minister Abbas Araghchi said that while contact with the United States (US) has not been cut off, negotiations to end the Middle East war had made "no tangible progress,” Aljazeera reported on Wednesday.

This statement came as US-Iran tensions escalate with new strikes despite a ceasefire. Both countries had one of the most intense back-and-forths since their ceasefire was announced nearly two months ago.

Earlier Wednesday, US President Donald Trump stated in the Oval Office that Iran is “pretty close” to signing a peace agreement with the US and that “it could happen over the weekend”.Trump added that he wanted to separate Lebanon from the Iran peace talks because “it’s a very different kind of thing.” Iran has long insisted that any deal to end the wider Middle East war must also halt the fighting in Lebanon.

Market reaction 

Crude oil prices attract some buyers following this headline. At the time of writing, the West Texas Intermediate (WTI) is up 1.80% on the day at $93.30.