Ahead of the U.S.-Iran nuclear talks on Friday, Tehran signaled that the negotiations will likely be a long process, dashing hopes of a quick and more sustainable de-escalation of tensions in the key oil-producing Middle Eastern regions.
Oil prices initially rose early on Friday in Asian trade on the news, with Brent climbing to $68 per barrel and WTI Crude prices trading at $64 a barrel, before both fell back later in the day.
Investors and speculators seemed to interpret the signals from Iran to mean the initial round of discussions in Muscat, Oman, today would only look to outline a roadmap for further negotiations and broad topics.
Iran’s Foreign Minister Abbas Araghchi, who is already in Oman, wrote in an X post early on Friday that “Iran enters diplomacy with open eyes and a steady memory of the past year.”
“We engage in good faith and stand firm on our rights,” said the Iranian official, who will represent the Islamic Republic in the talk mediated by Oman.
Steve Witkoff, the special envoy for U.S. President Donald Trump, will lead the U.S. delegation at the talks.
“Commitments need to be honored. Equal standing, mutual respect and mutual interest are not rhetoric—they are a must and the pillars of a durable agreement,” the Iranian minister said.
The main priorities for Iran in the round of talks on Friday include “assessing the other side’s goodwill and seriousness,” the Islamic Republic News Agency (IRNA) reported.
The start of a potentially long process of negotiations doesn’t allay concerns of further escalation between the United States and Iran, especially if President Trump loses patience in case of a stalemate, as it has happened in the past with U.S-Iran nuclear tal
Ahead of the Friday talks, the U.S. Virtual Embassy in Tehran issued an alert urging U.S. citizens to “leave Iran now” and “have a plan for departing Iran that does not rely on U.S. government help.”
By Tsvetana Paraskova for Oilprice.com
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