Make Or Break Time For The Iran Nuclear Deal
Washington has now "commented" on Iran's response to the draft nuclear deal, though we still don't know what the nature of those comments was. Speculation is that the comments focused on economic guarantees for Iran. It's all making Israel nervous, with its finger on the trigger, though much of this is electioneering ahead of polls in just a few months in Israel. The Israeli PM has urged Biden to call off the deal, claiming that Tehran is now calling the shots and manipulating the contents. And Netanyahu is using this opportunity for some serious grandstanding.
Some optimism that a deal will be concluded ultimately comes from accusations within the Iranian political arena that when talks to revive the deal initially restarted in April 2021, certain hardline elements in Tehran opposed the deal in order to later take credit for it themselves following elections in June that same year.
At the same time, the U.S. this week ordered airstrikes against Iranian-backed groups in Syria, and everyone's waiting to see how Russia is going to deploy those Iranian drones it recently received against Ukraine, despite Washington's warnings to Tehran to avoid this path in the middle of nuclear deal negotiations.
Oil markets have been responding to rumors of a potential nuclear deal, but Saudi comments about OPEC+'s purview to cut output at any given time to balance out a market the Kingdom's energy minister sees as skewed away from fundamentals serves as a counterbalance…
Washington has now "commented" on Iran's response to the draft nuclear deal, though we still don't know what the nature of those comments was. Speculation is that the comments focused on economic guarantees for Iran. It's all making Israel nervous, with its finger on the trigger, though much of this is electioneering ahead of polls in just a few months in Israel. The Israeli PM has urged Biden to call off the deal, claiming that Tehran is now calling the shots and manipulating the contents. And Netanyahu is using this opportunity for some serious grandstanding.
Some optimism that a deal will be concluded ultimately comes from accusations within the Iranian political arena that when talks to revive the deal initially restarted in April 2021, certain hardline elements in Tehran opposed the deal in order to later take credit for it themselves following elections in June that same year.
At the same time, the U.S. this week ordered airstrikes against Iranian-backed groups in Syria, and everyone's waiting to see how Russia is going to deploy those Iranian drones it recently received against Ukraine, despite Washington's warnings to Tehran to avoid this path in the middle of nuclear deal negotiations.
Oil markets have been responding to rumors of a potential nuclear deal, but Saudi comments about OPEC+'s purview to cut output at any given time to balance out a market the Kingdom's energy minister sees as skewed away from fundamentals serves as a counterbalance to that downward pressure, as does Europe's looming Russian oil ban and an end to SPR releases this fall.
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