Oil on Thursday touched highs above $100 a barrel, but settled well below the day’s peak, as growing prospects for an Iran nuclear deal that would allow more...
Oil on Thursday touched highs above $100 a barrel, but settled well below the day’s peak, as growing prospects for an Iran nuclear deal that would allow more oil into the global market helped to blunt the rally sparked by Russia’s invasion on Ukraine.
The U.S. and Iran have been holding indirect talks, alongside other world powers, to reinstate the 2015 Joint Comprehensive Plan of Action. The deal was put in place to set limits on Iran’s nuclear program in exchange for relieving sanctions on Tehran, but the Trump administration withdrew the U.S. from the deal in 2018.
Also, on Tuesday Enrique Mora, the deputy secretary-general and political director of the European Union, tweeted that the talks are at a “crucial moment,” nearing the end after 10 months of negotiations. He said the result is still uncertain and that key issues still need to be fixed, but “all delegations are fully engaged.”
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