Iran and the US are inching closer to a deal to end months of conflict, with talks on a final agreement set to start on Friday, according to Iran's foreign minister Abbas Araghchi.
Araghchi struck a cautious tone, citing a history of broken commitments and agreements being torn up, but oil prices have eased as markets weigh prospects for a resumption of supply through the key Strait of Hormuz.
US President Donald Trump has dismissed reports that Washington would provide $300 million to Tehran under the peace agreement as 'fake news', and reiterated that the deal would ensure Iran does not develop nuclear weapons.
The agreement, which was electronically signed by leaders in the US and Iran, is expected to be signed in person on Friday and would extend a tenuous ceasefire announced in April by another 60 days and reopen the Strait of Hormuz.
