President Donald Trump declared Thursday that the U.S. is nearing a nuclear agreement with Iran, suggesting Tehran has “sort of” accepted terms, though Iranian officials insist key disputes remain unresolved. The prospect of a deal sent oil prices tumbling $2/barrel on expectations of sanctions easing.
Key Developments:
- Trump’s Remarks: During his Gulf tour, Trump hinted at a two-path approach—diplomatic or “violent”—but claimed a deal could avert conflict.
- Iran’s Stance:
- A senior Iranian official denied receiving a new U.S. proposal, reiterating Tehran’s “red line” on uranium enrichment rights.
- Khamenei adviser Ali Shamkhani told NBC Iran is open to weapons-grade uranium cuts if sanctions are lifted.
- Sticking Points:
- Sanctions Relief: Iran demands full removal, while the U.S. resists lifting major economic penalties.
- Enriched Uranium Disposal: Disagreements persist over stockpile reduction timelines and destination for shipped uranium.
Market & Geopolitical Impact:
- Oil Price Drop: Brent crude fell to $63/barrel on fears of Iranian supply returning to the market.
- OPEC+ Dilemma: A deal could flood the market with Iranian oil, worsening the current global surplus.
- Regional Tensions: Gulf allies like Saudi Arabia worry about Iran’s economic revival under sanctions relief.
Trump Claims U.S. ‘Very Close’ to Iran Nuclear Deal as Oil Prices Drop on Sanctions Relief Hopes