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Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Qatar’s foreign minister said Iranian leaders are “ready for a middle-ground solution” toward restoring the 2015 nuclear deal with world powers.
While there were no further details on the plan, Mohammed Bin Abdulrahman Al Thani said in a statement that additional quantities of Iranian oil would help stabilize crude prices and ease inflation.
Negotiations between Iran and world powers have stalled in recent months and Qatar has said it can mediate. Diplomats have warned that a return to the agreement looks increasingly difficult. Still, European Union officials said that a trip to Tehran earlier this month by the bloc’s main Iran negotiator had “reopened” talks.
The deal, which then-US President Donald Trump pulled out of in 2018, limited Iran’s atomic activities in return for the lifting of sanctions, including on oil exports.
Qatar: Iranian Leadership Seeks Middle Ground Solution on JCPOAIran Revolutionary Guard Colonel Shot Dead Near Tehran Home Iran: Nuclear Talks ‘A Few Steps Ahead’ After EU Envoy’s VisitEU Says Iran Visit Made Progress on Stalled Nuclear Talks Biden’s Hopes for Iran Deal Fade Just When World Needs Oil Most
Oil rose at the start of the week as investors weighed tight refined fuel markets and a weaker dollar against concerns over global growth.
West Texas Intermediate climbed to $111 a barrel following four weekly gains, the longest such run since February. Gasoline and diesel prices have rallied to records ahead of the start of the US summer driving season.
An Iran nuclear deal may bring 500,000 to 1 million barrels per day of oil back on to international markets, enough to weigh on prices.
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