- Oil futures try and claw back losses sustained on Monday, with WTI up $1.01 Wednesday morning to $68.43
- The gains have come across multiple asset classes as U.S. and European Index futures moved higher
- Commodities are set to rebound sharply after their recent rout unless there are widespread lockdowns to the now dominant delta variant, according to Goldman Sachs (Bloomberg)
- Talks between Iran and the U.S. to revive the 2015 nuclear agreement have stalled due to domestic Iranian interference, according to Ali Rabiei, an Iranian government spokesman (Bloomberg)
- Iran’s government said the interference was responsible for stalling President Hassan Rouhani’s efforts to reach a deal
- Rabiei cited a bill, which compelled Iran’s government to significantly expand atomic activity and limit nuclear inspection, that had complicated the negotiations
- AEGIS notes that Iran has between 1.5 and 2 MMBbl/d of exports that could re-enter the global market over 9-12 months if sanctions were lifted and remain one of our largest bearish risks within our Factor Matrix