Strong swings in international oil prices: the resumption of Iran’s nuclear agreement is imminent, and there are twists and turns in the situation in Russia and Ukraine via /r/wallstreetbets #stocks #wallstreetbets #investing

Strong swings in international oil prices: the resumption of Iran’s nuclear agreement is imminent, and there are twists and turns in the situation in Russia and Ukraine

The international oil price was affected by the continuous fermentation of many geopolitical events and once again took the stimulating roller coaster.

As of press time, after the oil distribution fell all the way from US $96 to US $91 in the morning, stimulated by the “Donetsk gunfire”, it jumped to above US $94. At present, with no sign of further deterioration of the situation, the oil price has dropped to around us $93.

Iran nuclear agreement: Khamenei emphasizes the right to peaceful use of nuclear energy

The crude oil market fell sharply in the early morning of Thursday, mainly due to the progress made in the negotiation of Iran’s nuclear agreement. Ali ghabi said that there would be no agreement on any issue until the Iranian representative reached an agreement in public for several weeks.

Earlier, U.S. State Department spokesman Ned Price also publicly stated that the negotiating parties are “very close to the final stage. According to Platts, an interim agreement could potentially boost crude supplies by nearly 700,000 barrels per day.

More symbolically, Iran’s Supreme Leader Ayatollah Khamenei also delivered a nationally televised address on Thursday, unveiling his determination to continue to advance the peaceful use of nuclear energy.

Khamenei said Iran will need peaceful nuclear energy sooner or later, and if we don’t pursue it proactively… Then the country’s independence will be violated. Our revolutionary brothers have done well in their diplomatic efforts to try to get rid of the sanctions, but the main task at hand is to remove them. The aforementioned sanctions refer to the unilateral withdrawal from the Iran nuclear deal and the sanctions imposed under the U.S. Trump administration.

According to several media outlets citing Western and Iranian sources, the next few days will be a critical point for bridging differences in the negotiations to restart the Iran nuclear deal. This also means that international oil prices, which are at a high level, could quickly decline at any time because such a piece of news popped up.

Of course, the rapid movement of oil prices around noon on Thursday clearly means that something else is going on in eastern Ukraine.

Tensions rise again as gunfire is heard in Donetsk

At dawn local time on Thursday, gunfire was heard at the border between civilian forces and areas controlled by U.S. government forces in the Donetsk region. According to media reports citing diplomatic sources, the OSCE, which monitors the situation in the region, reported several incidents of shelling near the ceasefire line on Thursday. Both sides are now also publicly accusing each other of firing in violation of the Minsk Agreement.

It is worth noting that since the 2015 ceasefire agreement, OSCE has often reported a dozen incidents of firing in violation of the agreement in a single day, and consequently casualties have also been frequent.

The parties also continue to be in a state of wait-and-see and war of words at this time, as it remains questionable whether this incident will trigger a continued escalation of the situation. Most notably, EU officials have confirmed that Thursday’s meeting of EU leaders will not put discussions of sanctions against Russia on the agenda because of the shelling, saying there is still a “split” in national opinion.

EU officials said the trigger for sanctions is a matter of political perception, and we have not yet entered that discussion. The EU is watching the Donbass shelling carefully, and we know that the incident itself could be used as a test or a pretext.

On the Russian side, according to the Kremlin’s latest pronouncement Thursday evening, the Russian defense minister has told Putin that the military exercises close to the Ukrainian border region and in Crimea are nearly over, after which the participating troops will return to their stations. The Kremlin also stressed that the withdrawal of troops will not be completed in a day, and hoped that people would not believe the reports of the media spreading fake news about the “time of the Russian invasion”.

Submitted February 17, 2022 at 01:20PM by lilyxu185
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