Iranian negotiators in Vienna confirm that they plan to continue pressing toward a deal after Iran's presidential election weekend, which saw ultraconservative judiciary chief Ebrahim Raisi emerge victorious: "we’ve reached a clear text on all the issues and what remains requires the decision of all parties. It’s not unlikely that the next round of talks will be the last," the foreign ministry optimistically stated. But this has been the constant refrain for weeks - still with no firm end in sight.
But with a more pessimistic tone, the West is warning there's nothing 'open ended' about the talks: "Western officials warned Tehran on Sunday that negotiations to revive its nuclear deal could not continue indefinitely, after the sides announced a break following the election of a new hardline president in Iran," according to Reuters. For the past month there's been intensifying prediction-making over just what the impact a "done deal" - if things in Vienna finally get there - will be on global oil prices, which would immediately see at least 2.5 million barrels of Iranian crude per day come flooding back to the market.
On Sunday at a moment negotiators adjourned a sixth round of meetings yet still with no deal reached, Bloomberg observed, "Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran -- which has elected a new hardline president -- allayed prospects for a swift revival of the Islamic Republic’s crude exports." Into Monday morning it's still climbing, with Brent Crude hovering just under $73.5 a barrel.
Brent crude starting a week ago has held at its highest price level in nearly 3 years, pushing up...