Oil Rebounds As Iran Nuclear Deal Talks Hit A Snag

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Zero Hedge: Oil prices rebounded from last week’s Iran deal optimism-inspired rout, as a new potential “snag” emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, even as Goldman Sachs said last night that the case for higher prices remains intact even with increased Iran exports.

Oil prices rebounded from last week’s Iran deal optimism-inspired rout, as a new potential “snag” emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, even as Goldman Sachs said last night that the case for higher prices remains intact even with increased Iran exports.

Oil prices fell almost 3% last week after Iran’s president, Hassan Rouhani, said the United States was ready to lift sanctions on his country’s oil, banking and shipping sectors. However, as we reported over the weekendthe speaker of Iran’s parliament said on Sunday a three-month monitoring deal between Iran and the U.N. nuclear watchdog had expired and that the country would block inspectors from accessing nuclear site images.

However, offsetting some of the tension, on Monday morning – and as expected – a one-month extension to the monitoring agreement has been announced.

And yet, the mood soured further after Secretary of State Blinken said that there was no sign yet that Iran is willing to comply with nuclear commitments needed to lift sanctions, when asked if a decision was made to lift sanctions on Iran. Read More

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