German and Iranian officials confirm a framework.
- Tweets from top German and Iranian officials say a deal has been reached
- Reuters reports that the agreement includes provisions that two thirds of Iran's current enrichment capacity will be suspended and monitored for 10 years
- Most of Iran's enriched uranium stocks to be diluted or shipped abroad under deal
The final technical details of the deal are due June 30. There was never any scope for a completed deal here, this was always about finding a framework so that shouldn't come as a surprise.
Oil prices fell when it was first revealed that officials were planning a press conference but squeezed higher when the deal was confirmed. Lately, prices have been falling again. Keep an eye on $48.50 for a potential squeeze into settlement.
WTI intraday.
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