Reported US-Iran nuclear breakthrough sends oil sharply lower
Unconfirmed Al Arabiya reports say the US would allow Iran to enrich uranium to 3.67% and talks on IAEA inspectors are being arranged, as crude drops about 4-6%.
What we know
Al Arabiya sources, relayed by market news accounts, say a Qatari-Pakistani proposal revived talks, with Washington allowing 3.67% enrichment and Tehran agreeing; this is unconfirmed. A preliminary agreement is described as likely, and arrangements are reportedly being made for IAEA inspectors to return. WTI reportedly settled at $86.85, down 4.38%, and Brent futures reportedly fell 5.85%. Silver reportedly rose 3% to $53.40/oz. Middle East Eye reports a senior UAE official saying the Gulf faces 'prolonged uncertainty' with no settlement to the Iran war.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.