Catching up on weekend news.
On Saturday negotiators from France, Britain and Germany (collectively known as the E3) expressed doubts on Iran's commitment to reaching an agreement on the talks to revive its 2015 nuclear deal.
- “This latest demand raises serious doubts as to Iran’s intentions and commitment to a successful outcome on the JCPoA” (JCPoA is the Joint Comprehensive Plan of Action ... that's the deal trying to be brought back to life).
- “Iran’s position contradicts its legally binding obligations and jeopardises prospects of restoring the JCPoA.”
Iran responded later in the weekend with a middle finger. Iran’s foreign ministry spokesman Nasser Kanani:
- “It is surprising and regrettable that, in a situation where diplomatic interactions and exchanges of messages are continuing… to finalise the negotiations,” that the E3 would issue such an “unconstructive” statement
- “The three European countries are advised to play a more active role to provide a solution to end the few remaining disagreements instead of entering the phase of destroying the diplomatic process”
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This should provide a tailwind for the oil price when futures markets reopen Sunday evening US time.
