US Says Witkoff, Kushner Had Positive Iran Deal Talks

What's the latest on who's going to control the street? The key thing for oil markets. Good morning Lizzie. That is a good question. And for the time being, the answer is we still

don't know. But the talks, as you had mentioned in Doha, started at a rocky place but ended up being positive. This is according to the American side, both Steve Wyckoff and Jared Kushner, President Trump's son in law, had attended

those unofficial talks that Iran had a day earlier said that it will not participate in. And Qatar really downplayed the importance of these talks as well. But they happened yesterday.

They ended up in a good place. Iran did say that either $12 billion of frozen assets will be unlocked or have already been unlocked, and those oil sanctions that it has been touting being lifted have also taken place.

Again, this is according to the Iranian side. We don't know much from the American side. What we do know a little bit from from the American side is this report by the Wall Street Journal, Lizzie, that said that President Trump had opted out of

a military position in Iran. This is according to sources of the Wall Street Journal saying this, saying that he was briefed by his advisers and he said that he doesn't actually mind if the negotiations go on beyond the deadline period set in August.

And so that really gets to show you just how much the American side wants to get this deal or the permanent deal once the MoU in negotiations are down the line, uh, actually down the line. And that obviously includes the nuclear component that we've been

talking about over the past few months. But when it comes to the other sticking point of the MOU, that is the Strait of Hormuz, Iran maintains that it wants to toll it. We spoke about that earlier in the week.

It said that it will do that with or without the help of the other party that controls the other side of the Strait of Hormuz. That is our man, Omani Sultan Haitham been Tariq met with French counterpart Macron yesterday or the day before yesterday,

and they both agreed that it was a waterway that should not be controlled. It's the natural waterway that should not be held at the control of any country. Iran obviously opposes this and says it will start charging

tolls once the 60 day negotiation period is over. That remains to be seen. The U.S. response to that remains to be seen as state. And Marco Rubio, the secretary of state in the United

States, said the notion of tolling it is completely unacceptable. But when it comes to the actual talks that have happened, all we know is that they are headed towards a positive place. We're still monitoring movement in the Strait of Hormuz.

Uh, big banks, including Goldman Sachs and Morgan Stanley actually say we might see a return to fundamentals with oil prices. According to Morey and Stanley, averaging around $75 a barrel for the third quarter and the fourth quarter.

Goldman Sachs also says an oversupply is set to hit markets later this year. So quite a reversal from the state of oil markets that we've been seeing since late February. Um, and something to definitely keep an eye on for

the time being.