Iran Is "Tantalizingly Close" To A Nuclear Deal That Could Drag Oil Prices Down

The spike in crude oil prices last week in the aftermath of Russia’s invasion of Ukraine has lent further urgency to the long-running efforts to bring Iranian oil back into the global oil market in order to bring prices back down to levels that do not cause so much damage to major economies. According to sources closely connected to the current negotiations between the ‘P5+1’ group of nations (U.S., U.K., France, China, and Russia, plus Germany) and Iran exclusively spoken to last week by OilPrice.com, the mechanism to achieve…