Gold Silver Reports (GSR) – Iranian Oil Minister Bijan Namdar Zanganeh said he had a good meeting with his Saudi counterpart in Vienna on Friday and he wasn’t feeling pessimistic about the possibility for a compromise — a reversal of his position on Thursday night. After a tumultuous few weeks that have whipsawed crude markets, his comments suggested oil consumers from the U.S. to India and China could soon find some relief from high prices.
Iran
Crude Oil Slip Before Iran Decision News By Neal Bhai MFA Technical Analyst
Gold Silver Reports (GSR) – Crude Oil Slip Before Iran Decision News By Neal Bhai MFA Technical Analyst — U.S. stocks slumped as utility and telecom shares fell. West Texas crude sank as much as 4.4 percent before paring the loss as a U.S. official said Trump would quit the accord. The greenback strengthened for a third day. Ten-year Treasury yields approached 3 percent after JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned a climb to 4 percent may be coming.
Donald Trump will Withdraw from the Iran Nuclear
Gold Silver Reports (GSR) – French President Emmanuel Macron said he thinks U.S. President Donald Trump will withdraw from the Iran nuclear accord, dealing a blow to the six-nation agreement reached in 2015 and endorsed by world powers.
Crude Oil Down as Trump, France’s Macron Talk Iran Deal
Gold Silver Reports (GSR) – Crude Oil Down as Trump, France’s Macron Talk Iran Deal — U.S. President Donald Trump and French President Emmanuel Macron pledged to seek stronger measures to contain Iran. At a joint news conference, Trump did not repeat threats to withdraw from the 2015 nuclear agreement but made clear he has little patience for it.
Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions
Gold Silver Reports (GSR) – Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions — Brent crude, the global benchmark, rose to its highest level since OPEC on Nov. 27, 2014 turned its back on curbing output to support prices, a move that triggered a battle for market share and helped deepen a collapse to $27 in early 2016.
Iran Support Fine Line over Production Freeze
Gold Silver Reports → Iran has expressed trade support for efforts among oilproducing nations to cap output yet stopped short of joining the pact, trying to decide the best way forward as it re~enters the international market.