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The US and Iran have “largely negotiated” a peace pact to end the nearly three-month war, US President Donald Trump said, asserting that he has told the negotiators “not to rush into a deal” and that “both sides must take their time and get it right.” Trump said the US blockade of ships in the Strait of Hormuz "will remain in full force and effect until an agreement is reached, certified and signed."
Petrol and diesel prices were hiked by Rs 2.61-2.71 per litre on Monday, marking the fourth increase in less than two weeks, as state-owned firms continued to pass on rising international prices to consumers. With the latest revision, cumulative increases in petrol and diesel prices are almost Rs 7.5 per litre since fuel rate revision resumed on May 15 after a prolonged freeze.
Petrol price was increased by Rs 2.61 a litre to Rs 102.12 per litre in Delhi from Rs 99.51. Diesel rates have been increased by Rs 2.71 to Rs 95.20 per litre from Rs 92.49, industry sources said. The hikes come amid elevated global crude oil prices and a weakening rupee, which have increased pressure on oil marketing companies' import costs.
Trump also hit out at former President Barack Obama's 2015 nuclear deal with Iran and suggested that Iran could join the Abraham Accords.
“I would like to thank, thus far, all of the countries of the Middle East for their support and cooperation, which will be further enhanced and strengthened by their joining the Nations of the historic Abraham Accords and, who knows, perhaps the Islamic Republic of Iran would like to join, as well,” Trump said.
Global benchmark Brent crude fell as much as 5.4% to $97.97 a barrel, while West Texas Intermediate traded below $92. The decline marks Brent's fourth drop in five sessions and puts prices on track for their lowest close in more than a month.
In a post on Truth Social on Sunday, Trump wrote, "If I make a deal with Iran, it will be a good and proper one, not like the one made by Obama, which gave Iran massive amounts of CASH, and a clear and open path to a Nuclear Weapon. Our deal is the exact opposite, but nobody has seen it, or knows what it is. It isn’t even fully negotiated yet. So don’t listen to the losers, who are critical about something they know nothing about. Unlike those before me who should have solved this problem many years ago, I don’t make bad deals!"
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