Iranian Foreign Minister, Abbas Araghchi, has stated that he has no intention of direct talks with the United States, despite a U.S. proposal to end the war being under review by senior officials in Tehran. The International benchmark Brent crude futures rose by 1.21% to $103.46 per barrel, while U.K. West Texas Intermediate futures also rose by a 1.35%. This comes as both Washington and Tehran offer differing accounts of the status of their negotiations. The Federal Reserve is unlikely to trigger aggressive policy response from the current situation.