Agreement made on nuclear power in Iran. And the oil goes down: -2% the Wti at 51,1 dollars, influencing energy stocks such as l'Eni down by 0,75% to 15,75 euros at 10 am. The markets see in the agreement the recovery of Iranian crude oil production and the consequent downward impact on the prices of black gold.
The agreement was recently announced and will be presented at a press conference in Vienna at the end of the morning. The USA, Russia, China, France, Great Britain, Germany (the so-called 5+1) have reached an "historic" agreement with Iran which has leaked the news. A joint statement will be read by EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif.
A new meeting between 5+1 and Iran is expected in these hours and this morning Iranian TV anticipated that the agreement could be announced around noon (local time).
The deal would include a compromise between Washington's demands and Tehran's position that would allow the IAEA inspections , the International Atomic Energy Agency, not only on civilian power plants but also on Iranian military sites. However, the inspectors' access "will not necessarily be guaranteed and may even be refused".
The central point of the agreement, however, provides strict and verifiable limits for the Iranian nuclear programme to prevent it from turning into the production of nuclear weapons. Thanks to the agreement, Iran will gradually lift the economic sanctions that have penalized its economy for decades. It also concludes a 35-year period during which diplomatic relations between the US and Iran were severed.
They have already spoken out against the agreement several times Israel, Saudi Arabia and the Gulf Countries.
