Update(0835ET): US-Iran headlines are once again swinging between mediator proposals and Tehran declaring it is "now in a state of war" after the Qeshm strike - which is a sadly all too familiar pattern from this past summer. The latest from regional sources are seeing oil prices drop lower:
- "Washington has approved the draft memorandum of understanding that the Qatari delegation presented to Iran yesterday", Al-Araby Al-Jadeed reports citing sources close to the mediation team.
- "Washington and Tehran have made concessions regarding the Iranian nuclear program and frozen funds", Al Araby Al Jadeed reports citing sources.
WTI is back at its lowest level in three weeks...
Futures surged on the return to 'optimism' - even if briefly...
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Iran has said that three more tankers exploded and are on fire Tuesday after hitting naval mines while transiting through Strait of Hormuz without permission.
The Islamic Revolutionary Guard (IRGC) described that the ships had turned off their geolocation tracking systems as they crossed the southern part of the Strait. No casualties have yet to be reported. Also on Tuesday the IRGC claimed to have shot down two US Lucas drones over the coastal area of Bandar Khamir.
via ReutersThis comes atter the US reportedly struck Iran’s Qeshm I
