Talks between US and Iranian negotiating teams are serious and Iran “affirms it will never have nuclear weapons,” an Iranian source told CNN; however, the “termination of all US sanctions and UNSC resolutions are key to any agreement,”

• “no facility and/or equipment will be destroyed, as they are all registered and UN safeguarded sites.”
• Regarding enrichment, Iran will exercise its right to peaceful nuclear energy, including enrichment and fuel production, in accordance with its practical needs, and under full IAEA verification, according to the source.
• Enriched materials will not be shipped out of the country. Whatever Iran agrees to do, including dilution, will be implemented inside Iran, the source said.

The ongoing talks between the US and Iran signal a potentially serious step towards diplomatic resolution regarding Iran's nuclear program. However, Iran's insistence on the termination of US sanctions as a precondition suggests complexities ahead. Should these negotiations advance, expect implications for oil markets, particularly WTI, and broader geopolitical risk sentiments.