'Steeled for bad news': Finance Minister urges caution over US-Iran deal
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News of a peace agreement to be signed this between Iran and the US is prompting optimism about fuel prices and the global economy, but the Finance Minister is staying cautious.
Both sides have agreed a deal, to be formally signed in Switzerland on Friday - and it's understood the the Strait of Hormuz will reopen and 60 days of nuclear negotiations will commence.
Nicola Willis says there's been breakthroughs followed by backsliding over the last few months as the conflict continued.
"I'm steeled for possibly bad news, but hopeful this is going to stick because we've already seen the global oil price come down pretty significantly as a result, and I'd love to see it keep coming down."
LISTEN ABOVE
- It's a deal: US and Iran end conflict in Middle East, including Lebanon
- Trump says Iran peace deal to be signed Sunday, Strait of Hormuz to reopen
- 'Peace has never been this close': Iran says deal to end war is near - but Trump lashes out
- Deal or no deal? Trump says 'great settlement' reached, Iran denies any agreement
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