Tehran Says Atomic Deal Possible As Gloom Deepens: Iran Snapshot
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
(Bloomberg) --
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
Iran said an agreement with the US that could help revive the 2015 nuclear deal was “within reach,” days after its decision to further restrict monitoring of atomic sites prompted warnings that the pact was almost beyond saving.
Foreign Ministry spokesman Saeed Khatibzadeh told reporters in Tehran that Iran’s June 8 removal of some International Atomic Energy Agency cameras were “technical measures” and “reversible.” The comments suggest Iran is testing the absolute limits of brinkmanship as it demands the US remove its elite military units from a list of terrorism sponsors.
Talks to revive the 2015 accord, which could see Iranian oil exports return to stretched global markets, have been stalled for months over the impasse. IAEA Director General Rafael Grossi last week warned that taking the cameras offline risked dealing a “fatal blow” to the nuclear deal.
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Oil
Oil extended losses as investors weighed the prospect of further monetary tightening to combat surging US inflation and the potential for more virus lockdowns in China.
West Texas Intermediate futures fell almost 2% to trade below $119 a barrel amid a broader market selloff. US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve. China is starting to re-impose virus curbs as cases rise, just weeks after major easing in key cities such as Shanghai.
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