Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
Tehran’s top nuclear negotiator has flown back to Vienna as Iran and world powers look to revive the 2015 accord, potentially as early as this week.
On Sunday, Russia’s main envoy in the talks said there was a “very high probability” of a deal within a week. That followed more optimistic comments from Washington that an agreement was “close.”
Sticking points have prevented Tehran and Washington from resolving their differences and it’s unclear exactly how Russia’s invasion of Ukraine might influence the discussions. Iran could possibly ramp up shipments beyond 1 million barrels day within months of an accord, traders estimate, offering potential relief as the Ukraine conflict pushed oil above $100 a barrel.
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Oil
Brent crude soared after Western nations unleashed additional sanctions to isolate Moscow following its invasion of Ukraine.
Oil supply was already struggling to meet a recovery in demand as economies reopen following Covid-19 restrictions, and any disruptions to flows from the world’s No. 3 producer could sharply exacerbate the tightness.
Iran Snapshot: Envoys return to Vienna with deal close
Image: Bloomberg
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
Tehran’s top nuclear negotiator has flown back to Vienna as Iran and world powers look to revive the 2015 accord, potentially as early as this week.
On Sunday, Russia’s main envoy in the talks said there was a “very high probability” of a deal within a week. That followed more optimistic comments from Washington that an agreement was “close.”
Sticking points have prevented Tehran and Washington from resolving their differences and it’s unclear exactly how Russia’s invasion of Ukraine might influence the discussions. Iran could possibly ramp up shipments beyond 1 million barrels day within months of an accord, traders estimate, offering potential relief as the Ukraine conflict pushed oil above $100 a barrel.
Latest coverage
Oil
Brent crude soared after Western nations unleashed additional sanctions to isolate Moscow following its invasion of Ukraine.
Oil supply was already struggling to meet a recovery in demand as economies reopen following Covid-19 restrictions, and any disruptions to flows from the world’s No. 3 producer could sharply exacerbate the tightness.
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