President Donald Trump told on Monday that a settlement with Iran is within reach, and oil traders responded by selling first and reading the fine print later.
In a Truth Social post, Trump said negotiations with Iran are “proceeding nicely” and that the outcome will be “a Great Deal for all or, no Deal at all.” He added the alternative was a return to “the battlefront and shooting, but bigger and stronger than ever before.”
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In the same post he called on Saudi Arabia, Qatar, Pakistan, Turkey, Egypt and Jordan to sign the Abraham Accords, and floated the idea of Iran eventually joining the same framework.
The oil market heard the word “deal” and moved.
