On Monday morning, global oil benchmark Brent fell 5.5% to $97.90 a barrel, and remained around $97.70 a barrel in the afternoon. US President Donald Trump said the negotiations were "proceeding nicely" but added it would either be "a great deal for all or no deal at all".  While Iran says progress has been made, a government spokesman added that a deal was "not imminent". Trump had previously said the deal would include the reopening of the key Strait of Hormuz shipping route, without giving further details. The Strait of Hormuz, through which around a fifth of the world's oil and liquefied natural gas (LNG) usually passes, has been effectively closed since the conflict started on 28 February. Earlier on Monday, Rubio said the talks were "still a work in progress." "As I said, you know, we thought we might have some news last night," Rubio said in the Indian capital, Delhi. His comments came after Trump said he had instructed negotiators "not to rush into a deal", after earlier suggesting one was close. Speaking after Rubio's comments, Iran's foreign ministry spokesman, Esmail Baqai, said agreement has been reached on a "large portion of the issues under discussion".  "But to say that this means the signing of an agreement is imminent - no-one can make such a claim”, he added. (BBC)