According to Iran’s position, the Strait of Hormuz will remain closed and nuclear talks with the United States will not resume until Tehran’s conditions are met. Iran has also said it is not prepared to make any concessions on its nuclear program. Despite this, oil futures are pulling back toward $96 per barrel today, compared with levels above $100 seen earlier in the session.
The decline is likely being supported by reports that technical experts have joined the bilateral talks, suggesting that the two sides are beginning to discuss more detailed terms of a potential agreement. Earlier sources in Tehran had indicated that the atmosphere surrounding the negotiations was becoming increasingly constructive.
Following the initial meeting involving U.S. envoys Steve Witkoff and Jared Kushner, an Iranian team of technical experts joined the discussions. An initial visa issue affecting the Iranian delegation was resolved quickly, allowing the team to participate. At this stage, however, the talks do not yet represent a breakthrough or a final compromise.
OIL chart, H1 interval
Source: xStation5
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