In the last 24 hours, President Trump twice threatened to restart the war against Iran and yet the price of Brent crude ticked lower to $79 per barrel from $81. Investors appear to be paying more attention to what mediators in Switzerland are saying about the ongoing peace talks between the two sides: “Encouraging progress” according to the BBC; “major progress” per Bloomberg.
A review of this morning’s notes from Wall Street analysts shows they are focused more on what Iranian sources are saying about the negotiations than Trump’s tweets.
The diplomatic progress includes:
A communication line to ensure ships can transit the Strait of Hormuz safely.
A "de-confliction cell" to reduce fighting between Hezbollah and Israel.
