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As talks continue and proposals are exchanged, Washington and Tehran still disagree on what has been agreed.
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There are signs of fresh momentum to end the war, but Trump himself has injected a note of caution.
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Oil prices fell under $100 US following pleas for peace in the Middle East by China's foreign minister, before rising a bit again. Markets in Europe and Asia soared at the same time, as did futures for major Wall Street indexes.
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European stocks soared on Wednesday as traders responded to reports that the U.S. and Iran are close to an agreement that will bring an end to the war.
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