Oil Quickly Rebounding on Iranian Denial, US Denies Tasnim Report It Agreed to Lift Iran Oil Sanctions

In a far too familiar pattern, just before US market open on Monday, a slew of optimistic Iran headlines saw oil erase weekend gains, which mostly came through Saudi Arabia’s state-funded Al Arabiya, as well as Reuters… only to be followed by Iranian officials rejecting the substance of these reports, putting things firmly back at square one.  Tasnim has newly cited Iranian government sources who seek to make clear that “Iran under no circumstances” will engage in new nuclear negotiations for an end to the war. Contradicting the earlier morning reports, it still sees negotiations to find peace in the war with the US as separate from the nuclear file. “Fundamental differences between the Iranian and American texts still remain”, Tasnim reports, citing a source. “Despite some changes in the new American text, fundamental differences stemming from the Americans’ exaggeration and lack of realism remain,” Tasnim writes, citing the Iranian source. According to more of the statements per state media: Oil reacted as expected to this official ‘denial’ of the prior optimism – quickly rebounding, also as Trump is said to be “losing patience” with the progress of talks. A US source has told Al Jazeera Iran has “days not weeks” to show progress. The optimism and […]

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