BREAKING 🚨 Oil rebounds to $103 amid Iran remarks on Axios report

Brent crude futures are rebounding from around $96 per barrel to above $102 after Iran denied the “optimistic” Axios report suggesting that a memorandum between the US and Iran could be only a matter of hours away.

According to Iran’s ISNA, parts of the Axios report remain speculative, and the text resembles more of an American wish list than reality; Iran is discussing the issue of war rather than the nuclear issue. Tehran claims that the US proposal contains ambitious and unrealistic terms, which it has rejected in recent days.
Iran also believes that the US would gain nothing from losing the war it may have to face, while Iran’s Tasnim agency, citing an unnamed source, reported that Iran has not yet responded to the latest US proposal because it contains unacceptable “red lines”.

OIL (M30 interval)

Brent crude oil futures (OIL) are moving higher in response to these comments, which raise major doubts over whether a path toward peace can be opened within the next 48 hours. Trump has already stated that the US will return to military operations and bombings if Iran does not show goodwill in negotiations.

Source: xStation5

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