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Iran Nuclear Deal Keeps Oil Markets On Edge

Crude oil prices began to slip on Friday after Federal Reserve Chair Jerome Powell spoke for a mere 8 minutes, warning that there would be pain ahead.
Oil prices have remained in limbo this week, with ICE Brent trending around $100 per barrel, as the market zoomed in on the prospects of an Iranian deal. As the Biden administration relayed its response to the European Union, acting as a broker between the two sides that refuse to negotiate directly, rumours seem to indicate that the proposed terms fall short of what Tehran expected, effectively creating a “take it or leave it” dilemma for the Iranian leadership. Unless there is any sudden breakthrough on Iran, it will be the Fed’s Jackson Hole symposium driving oil prices.
Aug 28, 2022 11:46
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