Brent crude futures (OIL) are rising today following the contract rollover and are gradually moving back toward the $100 per barrel area. Talks between the U.S. side and the Iranian delegation failed to produce any breakthrough, while Tehran, in exchange for reopening the Strait of Hormuz, reportedly presented a highly demanding set of conditions to Washington, including a very large compensation package related to the military operation.
- According to U.S. officials cited by Yonhap, the United States directly rejected Iran’s terms for reopening the Strait of Hormuz.
- Donald Trump reportedly rejected the proposal after indirect talks in which Steve Witkoff and Jared Kushner were in one room, while Iranian Foreign Minister Abbas Araghchi was in another, with Qatari mediators shuttling between the two sides.
- Iran reportedly demanded $300 billion in compensation from the United States. Tehran also sought the full lifting of U.S. sanctions and the release of $100 billion in frozen Iranian assets.
- Other conditions reportedly included ending the U.S. naval blockade and withdrawing U.S. troops from the region. Iran also demanded a regional ceasefire covering, among other areas, Lebanon and Gaza, which would likely require consultation between the U.S. and Israel.
- The rejection of these terms suggests that the gap between Washington and Tehran remains wide, particularly over sanctions, the U.S. military presence in the region and the conditions required to restore freedom of navigation through the Strait of Hormuz.
OIL chart (H1 and D1 timeframes)
Source: xStation5
Source: xStation5
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