Iran's foreign minister stated that the country will only accept a fair and comprehensive agreement in negotiations with the U.S. regarding the ongoing conflict in the Middle East. The conflict has significantly impacted global oil supplies, with the Strait of Hormuz being a critical chokepoint for about 20% of the world's oil. Brent crude oil futures fell 1.2% to $108.60 a barrel following comments from U.S. President Trump about progress in negotiations.
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