By Tala Ramadan and Kanishka SinghDUBAI/WASHINGTON, Aug 5 (Reuters) - U.S. President Donald Trump said his administration had "very good discussions" with Iran during all-day negotiations on Tuesday, fuelling expectations of an imminent end to the five-month conflict.Oil prices fell and stocks jumped in Asian trade on Wednesday after Wall Street hit record highs on hopes that a deal could soon be reached to restore traffic through the blockaded Strait of Hormuz.

The President said that the US would begin talks with Iran "in the form of a negotiation," on Monday afternoon.

US President Donald Trump said that new negotiations with Iran will begin Monday after he decided to hold off on striking the Islamic republic to pursue a deal to end the war…

US Iran news: New negotiations between the US and Iran will begin Monday to end the ongoing war. Talks will focus on the Strait of Hormuz and Iran's denuclearization efforts. Oil…

Markets rally as US pursues negotiations over shipping route and nuclear programme