By Lin Noueihed/Bloomberg News
VIENNA
EnergiesNet.com -2 14 2022
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
The Biden administration said a deal with Iran was now in sight but rapid advances in the Islamic Republic’s nuclear program meant the window for reviving the accord was narrowing.
Iran and envoys from world powers resumed efforts in Vienna this week to restore the 2015 agreement that set strict limits on Tehran’s atomic activities in return for the easing of sanctions, including on oil exports. The U.S. State Department has said talks were in the “final stretch” after multiple rounds. Russia says an agreement could be reached any time.
“A deal that addresses the core concerns of all sides is in sight but if it is not reached in the coming weeks, Iran’s ongoing nuclear advances will make it impossible for us to return to the JCPOA,” White House Press Secretary Jen Psaki said Wednesday.
Without a deal, the U.S. has said it will consult with allies on an alternative — and most likely punitive — way forward.
U.S. senators from both parties emerged from a closed-door briefing Wednesday saying they were stunned about the progress Iran is making with its nuclear program even as talks continue.
Oil
Oil was steady in Asian trading after a surprise decline in U.S. crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
Investors are also keeping an eye on progress of reviving a nuclear agreement with Iran. If there’s a deal, Tehran may be able to raise exports enough that crude prices fall. If not, analysts say they could move closer to $100 a barrel, if not higher.
bloomberg.com 02 10 2022
