Summary
- The US and Iran were reported to have approved an extension of the 60-day talks deadline.
- International oil prices fell sharply after the news, with West Texas Intermediate (WTI) and Brent crude each dropping by more than $1 a barrel.
- Markets reacted immediately, with futures tied to the three main US stock indexes all rising.
Forecast Trend Report by Period
The US and Iran have approved an extension of their 60-day negotiations deadline, according to a media report. International oil prices fell sharply immediately after the news, while US stock-index futures rose.
BlockBeats, a crypto-focused media outlet, reported on Aug. 17, citing Saudi media outlet Al Hadath, that a source said an agreement to extend the 60-day negotiating window between the US and Iran had been approved.
Details including the length of the extension and the schedule for future talks have not been disclosed.
Iran had previously argued that the original 60-day period had lost its meaning because the US violated a memorandum of understanding signed on June 18. Tehran said at the time that the 60 days were a negotiating window to discuss sanctions relief and the nuclear issue, not a final deadline for reaching an agreement.
Markets reacted immediately. West Texas Intermediate and Brent crude each briefly fell by more than $1 a barrel during the session, while futures tied to the three main US stock indexes all advanced.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.