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Oil jumps, stock futures slip as US-Iran talks stall

The dollar edged higher and U.S. stocks futures wiggled lower in early Asia trading on Monday, after the stalled 'U.S. - Iran peace talks' over the weekend.

Benchmark Brent crude futures climbed more than 2%, reaching a new three-week high at $107.97 per barrel.

S&P futures dipped by 0.3% after U.S. stock markets closed at a record high last week. The dollar was up against major currencies but not much. The euro fell 0.15% at $1.1706, and the yen was marginally weaker, trading at 159.53 to the dollar.

The full-scale war in the 'war started by U.S. and Israeli strikes against Iran two months back has been halted, but no agreement on terms has been reached to open up the Strait of Hormuz, which had been closed all but, sending energy costs soaring.

Donald Trump, the U.S. president, canceled a weekend trip by two envoys to Islamabad for talks. Meanwhile,?Iran’s foreign minister continued to travel between mediating?countries.

"If they want to talk to us, they can either come or call us. You know there's a phone. Trump said on Fox News' "The Sunday Briefing", that the country has nice, secure phone lines.

"They know what needs to be in the agreement." It's simple: they cannot have a nuke weapon. Otherwise, there is no reason to meet," Trump stated. (Reporting and editing by Edmund Klamann; Tom Westbrook)

(source: Reuters)