(Bloomberg) -- Here is a snapshot of what's happening with Iran, its nuclear talks and energy markets.
Latest developments
U.S. Special Envoy for Iran Rob Malley reiterated that a revival of the nuclear deal is unlikely if Tehran doesn't release four Americans that Washington says are being held hostage, presenting another hurdle to an accord in the near-term.
Meanwhile, an escalation in the Yemen conflict, which pits Iran-backed Houthi fighters against a U.S.-supported coalition including Saudi Arabia and the United Arab Emirates, also threatens to undermine the diplomacy in Vienna. Abu Dhabi was targeted with missiles from Yemen for the second time in a week, UAE state media said on Monday.
While U.S. and European envoys are signaling progress in the nuclear talks, there is limited time to reach a deal. Oil traders are preparing for scenarios that include an agreement within weeks or a potential breakdown in the negotiations.
Latest coverage
- UAE Intercepts Two Ballistic Missiles Fired From Yemen
- Iranians Told to Cut Gas Use as Consumption Hits Record High
- S.Korea Pays Iran's Dues to U.N. With $18 Million Frozen Funds
- Over 100 Dead or Wounded in Yemen Airstrike, ICRC Says
Oil
Oil pushed higher at the week's open as investors weighed prospects for rising demand as the omicron virus wave fades in key economies.
Goldman Sachs Group Inc. now says the most likely scenario is that an Iran nuclear accord isn't reached until the end of this year, with Tehran only boosting oil output in 2023.
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