Oil Moving Higher as Iran Talks Hit Snag
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During talks in Baghdad, western Powers ruled out sanction relief for Iran unless it carries out its part of the deal, prompting them to accuse westerners of creating "a difficult atmosphere", reports Reuters. So far there doesn't appear to be a break through - but there isn't a break down either.
"They are pushing back on enrichment and asking us to engage their plan," said a Western diplomat. "It is pretty tough going, but I don't think anyone ever expected anything else. We are moving forward, we are talking about the substance, we are looking for areas of common ground."
The price of oil has come down significantly since war-mongering in the region has become taboo, but this could change pretty quickly if there is a complete break down in talks. So far, this doesn't look like it will happen.
WTI futures are moving off yesterday's lows and are up about 1 percent. Economic concerns out of Europe have also weighed on the price. Oil is often traded using the ETFs (NYSE: USO) (NYSE: OIL).
"They are pushing back on enrichment and asking us to engage their plan," said a Western diplomat. "It is pretty tough going, but I don't think anyone ever expected anything else. We are moving forward, we are talking about the substance, we are looking for areas of common ground."
The price of oil has come down significantly since war-mongering in the region has become taboo, but this could change pretty quickly if there is a complete break down in talks. So far, this doesn't look like it will happen.
WTI futures are moving off yesterday's lows and are up about 1 percent. Economic concerns out of Europe have also weighed on the price. Oil is often traded using the ETFs (NYSE: USO) (NYSE: OIL).
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