Sullivan says talks not going well in the sense that the US does not have a path back into the JCPOA.
“We do not yet have a path back into the JCPOA,” says NSA Jake Sullivan. He says that efforts to salvage the deal have “proven more difficult” this year than the US would have liked to see.
Oil has struggled today as it continues to consolidate in the middle of the recent breakdown. The failure to even achieve a 50% bounce is negative.
I think once we get passed omicron and Iran, there will be a green light to buy oil but not yet.
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