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Market data shows the amount of oil trade rose before the US President said he would postpone attacks on Iran's power plants.
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President Donald Trump said Monday that the U.S. and Iran had productive talks over the weekend about ending the war.
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President Trump postponed his threat to strike power plants in Iran, citing "productive conversations" with the Iranians. But officials said the talks were in an early stage and not substantive.
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U.S. stocks were set to surge and oil fell after Trump and Iran gave conflicting reports about talks between the U.S. and Iran.
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