Oil prices have fallen sharply and Asian stock markets have risen on hopes of a deal that could bring an end to the US-Israel war with Iran.
US Secretary of State, Marco Rubio said negotiators had a pretty solid thing on the table and an agreement to end the conflict might be reached on Monday.
On Monday, global oil benchmark Brent fell 5.5% to $97.90 (£72.64) a barrel, while US-traded crude was 5.9% lower at $90.93.
US President Donald Trump had previously said the deal would include the reopening of the key Strait of Hormuz shipping route without giving further details
The Strait of Hormuz, through which around a fifth of the world’s oil and liquefied natural gas (LNG) usually passes, has been effectively closed since the conflict started on 28 February.
Rubio’s comments came after Trump said he had instructed negotiators not to rush into a deal after earlier suggesting one was close.
US President Donald Trump had previously said the deal would include the reopening of the key Strait of Hormuz shipping route without giving further details.
