Energy Report: It Ain't Easy

When it comes to an Iran deal, it's just not going to be that easy. Oil prices are being boosted by increasing demand and demand expectations and the fact that an Iran nuclear deal is becoming more difficult as Secretary State Antony Blinken says that it is unlikely that Iran will comply, making the whole Iranian deal a farce.


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Mr. Blinken met with Israeli Prime Minister Benjamin Netanyahu today trying to shore up a cease-fire between Israel and the Palestinians, and while Mr. Netanyahu said that he supports an international effort to rebuild the Gaza strip without helping Hamas, saying that, “If Hamas breaks the calm and attacks Israel, our response will be very powerful.” Mr. Netanyahu is also warning about the folly of an Iranian nuclear deal especially with the havoc that Iran has been causing in the world. “Regarding Iran, Netanyahu says: “I hope that the United States will not go back to the old JCPOA. We believe that that [2015] deal paves the way for Iran to have an arsenal of nuclear weapons with international legitimacy.” “Whatever happens,” said Netanyahu, “Israel will always reserve the right to defend itself against a regime committed to our destruction, committed to getting the weapons of mass destruction for that end.”

Yesterday was, even more, clear saying that In a ceremony marking the appointment of incoming Mossad chief David Barnea, and with many Mossad members in attendance, Netanyahu said: “The first task of each one of you is to prevent Iran from arming itself with nuclear weapons.” 

Yet Bloomberg says that “Today world powers convene Tuesday in Vienna for the fifth round of negotiations to revive a landmark agreement that will reinstate caps on Iran’s nuclear program in exchange for the country’s return to oil markets and the global economy.  

The talks with Iran are being closely watched by energy traders trying to measure when the Persian Gulf nation -- which holds the world’s fourth-largest oil and second-largest natural gas reserves -- could resume exports. Iran’s President Hassan Rouhani won backing from his Chinese counterpart Xi Jinping on Monday, with the two leaders agreeing to deepen trade and energy links once a return to the 2015 accord is finalized. “We’re optimistic that differences over some small details and operational affairs will be resolved in the not-so-distant days ahead,” Ali Rabiei, spokesman for the Iranian government, said Tuesday in Tehran. U.S. Special Envoy for Iran Robert Malley struck a more cautious note before departing for the talks that are in their seventh week. 

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