The United States and Iran have agreed on the foundation of a final agreement in their nuclear negotiations.

Reuters and AFP reported Tuesday that the two sides held three-and-a-half hours of negotiations over Iran’s nuclear program on Tuesday, local time, at the residence of the Omani ambassador to the United Nations in Geneva. The meeting came eleven days after negotiations resumed in Oman amid heightened military tensions.

After the discussion, Iranian Foreign Minister Abbas Araghchi told state television that “serious and constructive talks” between the two nations had delivered an agreed-upon set of principles.

He did not disclose details but said the parties would begin drafting a potential agreement based on them.

Following the announcement, West Texas Intermediate crude for March delivery fell zero-point-eight-nine percent to 62 dollars and 33 cents per barrel on the New York Mercantile Exchange.