Iran's top nuclear negotiator Ali Bagheri Kani tweeted on Wednesday that, following weeks of intensive talks, the JCPOA participants including the US and Iran are closer than ever to an agreement. However, he added that "nothing is agreed until everything is agreed". His tweet comes after French officials had said earlier in the day that a decision on salvaging the 2015 nuclear pact between Iran and major world powers was just days away and it was up to Iran.

Shortly after Kani's tweet, the US State Department said that the US is in the midst of the very final stages of talks with Iran reviving the 2015 nuclear deal. The State Department added, however, that they were not expecting a direct meeting between US Secretary of State Anthony Blinken and Iran's foreign minister. 

Market Reaction

Oil prices have been falling sharply in recent trade on the prospect that a deal would eliminate US restrictions on Iranian crude oil exports, thus allowing well over 1M barrels per day in addition supply onto global markets. Front-month WTI futures have tumbled all the way below $92.50 from previously trading in the upper-$93.00 area just a few minutes ago.