US and Iran edge toward a possible peace deal as Trump urges negotiators not to rush, roiling global markets from Japan’s Nikkei to oil prices and Gulf shipping.

US President Donald Trump flagged progress in talks with Iran, Tehran has warned that major gaps still stand in the way of dialing down the conflict.

Iran, the United States and mediator Pakistan all said on Saturday (May 23) that progress had been made in talks on ending almost three months of war, with President Donald Trump…