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The United States and Iran will hold new talks Monday afternoon, President Donald Trump said, after announcing he called off intense new strikes to allow for a deal on the Strait of Hormuz and Tehran's nuclear program.
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Oil prices fell on Monday as investors pared geopolitical risk premiums after U.S. President Donald Trump said he had called off a planned strike on Iran.
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While Iran denies that talks with the US are taking place, it is currently in negotiations with Oman over Strait of Hormuz access.
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The latest peace proposal calls for warring parties to return to negotiations and continue working out some of the thorny issues that derailed diplomatic efforts.
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