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[MARKET UPDATE]: Markets chop to geopolitical headlines; Stocks gain and oil slides on reports that Iran agrees to halt enrichment in exchange for easing US sanctions; but some of the moves pare on reports chance of an agreement are extremely slim

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Stocks rose and oil dropped on reports of an Iran enrichment-for-sanctions-relief deal, but moves pared as reports indicated an agreement remains extremely slim.

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Geopolitics

Mediators expected to hold separate talks with US and Iran on Monday or Tuesday, with Iran Foreign Minister Araghchi and Qatari mediators remaining in the US, according to sources

Geopolitics

Mediators were still working with Iran and the United States on a deal to end the fighting and open the Strait of Hormuz, with the indirect talks expected to resume on Monday, reports AP

Commodities

Saudi Aramco is considering discounts on OSPs for crude loaded off Oman via ship-to-ship transfers to offset record freight rates, according to reports