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Washington-Tehran Talks Progress
U.S. President Donald Trump announced that negotiations with Iran have achieved significant progress, with the possibility of reaching an agreement within the coming hours to reduce tension in the Middle East. The talks focused on ending the escalation and re-opening the Strait of Hormuz to international navigation, which could help ease pressure on energy markets and lower oil prices, especially if Iran and Oman agree to reopen the strait through which 20% of global oil trade passes. Oman and Qatar played mediating roles, and the developments led to a decline in oil prices and a rise in global stock indices as the announcement of a potential agreement is anticipated.
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