A spokesperson for Iran's Foreign Ministry said on Wednesday that Iran has received the United States' response to the draft agreement proposed by the European Union and said they have started assessing it, as reported by Reuters.

Market reaction

With the initial market reaction to this headline, crude oil prices came under modest bearish pressure. As of writing, the barrel of West Texas Intermediate was trading at around $93, where it was down nearly 1% on a daily basis. Meanwhile, the barrel of Brent was down 0.9% at $99.20.