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Asia-Pacific markets were set to rise Monday as investors looked past renewed diplomatic setbacks between the U.S. and Iran, even as escalating tensions in the Middle East kept oil prices elevated.
Sentiment held up despite U.S. President Donald Trump on Saturday scrapping plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan for negotiations with Iran.
“Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their ‘leadership,’” Trump wrote in a post on Truth Social.
Oil prices jumped about 2% after plans for a second round of peace negotiations between the U.S. and Iran unraveled again.
