Iran starts assessing US response

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.

The Iranian official has also said Tehran has started assessing the US comments on the draft deal. With the initial market reaction to this headline, crude oil prices came under bearish pressure.

As of writing, West Texas Intermediate was trading at around $93 per barrel, where it was down nearly 1% on a daily basis. Meanwhile, the barrel of Brent was down 0.9% at $99.20.