Reply To: Around The Barrel – Cushing Oil Inventory Lowest Since 2018, SPR Stocks at 20 Year Low


Reports that #IranDeal nearly done via Reuters “much of the text” of 20-page Iran nuclear deal been agreed but issues remain.

Sequencing starts with Iran suspending nuclear enrichment above 5%That will come with unfreezing $7B in Iranian funds held in South Korean banks along with the release of western prisoners
Once in place the main phase of sanctions-lifting will begin
Timeline of between 1 and 3 months from agreement to full implementation
New agreement will be like the old one where the US grants sanctions waivers renewing every few months
Iran continues to demand the US guarantee it will not withdraw again
Compromise may include agreement that Iran can enrich up to 60% again if US violates pact
Final round of negotiations may require face to face meetings between Iran and US