A newswire report is just out talking about a six month timeline for an Iran deal, citing Gulf and European officials.
It’s worth highlighting that the original JCPOA took two years to negotiate. The nightmare strategy here is that the Strait stays closed during negotiations or that risks are so high that tankers won’t take the risk.
Obviously, that’s an intolerable situation for the global economy and we’ve seen some equity selling on the headline.
This article was written by Adam Button at investinglive.com.