Some comments from a senior Iranian official (unnamed), cited by Reuters:
- Iran has decided to shift its policy from defensive to a ‘fully offensive one’
- Pressuring US or relying on mediators to reach a lasting peace is not realistic
- Has set a deadline of a few weeks for a full implementation of the MOU
- All entities will be prepared to escalate tensions in the region if diplomacy fails
- Iran will not wait for US to continue the naval blockade indefinitely
There is some inflamatory rhetroric here but there’s clearly still some diplomacy in play. Trump is also threatening to bomb Oman if it gets in the way. It’s hard to see any positive end to this but the market won’t care until oil hits $100 or $150. WTI was last up $0.83 to $83.02.
This article was written by Adam Button at investinglive.com.