Sylvia Westall, Bloomberg News

DUBAI
EnergiesNet.com 03 29 2022

 Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.

Latest developments

The U.S. said the revival of a nuclear deal with Iran may not happen soon following recent requests from Tehran, including that Washington removes the Islamic Revolutionary Guard Corps from its list of terrorist organizations.

“I can’t be confident it’s imminent,” Robert Malley, U.S. Special Envoy for Iran, told reporters on Sunday at a conference in Qatar. “A few months ago we thought it was imminent.”

The comments come as the U.S. reassesses the political costs of reviving the 2015 pact that limited Iran’s nuclear activities in return for sanctions relief, including on oil exports. Russia’s war on Ukraine is also complicating the negotiations, which involve Moscow.

Oil

Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer, while Iranian-backed fighters in Yemen announced a temporary pause in hostilities against Saudi Arabia.

West Texas Intermediate and Brent futures fell more than 3% in Asian trading after Shanghai said it will lock down areas in the city to conduct mass Covid-19 testing to try and stem an outbreak. The leader of Yemen’s Houthi group announced a three-day truce on Saturday after an escalation of attacks on the kingdom and its oil facilities over the past week.

bloomberg. 03 28 2022