Oil traders are eyeing the talks with Iran that are trying to resuscitate Iran's nuclear agreement. The interest is that if a deal can be reached it will herald the, eventual, return of more Iranian oil to world markets.
Progress on the talks has been sporadic only and there are setbacks aplenty. The latest is probably this. Over the weekend Iranian state television reported that the coutnry had launched a solid-fueled rocket into space. It's a rocket was capable of carrying a satellite of 220 kilograms (485 pounds).
The White House said it was aware of Iran’s announcement and criticized the move as “unhelpful and destabilizing.”
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