"Diplomacy and back channel talks and contacts between Iran and US to work out a draft agreement continues to be in the works -- Diplomacy is not dead", Journalist Mallick posts

The continuation of diplomatic talks between Iran and the U.S. suggests a potential thaw in relations, which could have significant implications for global oil supply dynamics. If these discussions lead to a formal agreement, it may alleviate sanctions and allow for increased oil exports from Iran, impacting WTI prices and overall energy market sentiment. Watch for reactions in the energy sector and consider the potential spillover into related asset classes.