Iran nuclear negotiator says 'closer than ever' to agreement

1) The US wants oil prices to be lower

2) Iran can add 500k bpd right away and another 500k bpd by year end

That's the recipe for a deal. There's been a small further dip in oil prices on these headlines.

Kani wrote:

After weeks of intensive talks, we are closer than ever to an agreement; nothing is agreed until everything is agreed, though. Our negotiating partners need to be realistic, avoid intransigence and heed lessons of past 4yrs. Time for their serious decisions.

I think a high probability of a deal should be priced in but you never know with the oil market. Between this and the growing likelihood of peace in Ukraine, there's plenty of reason to suspect we will have lower oil prices by month end.

In the FX market, a deal could put some downward pressure on CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term.