Netanyahu takes an ultra-hawkish position on Iran’s nuclear program

Axios’ Barak Ravid posts:

Netanyahu said in a video distributed by his office that a nuclear agreement with Iran would be acceptable to him only if it included the explosion of all of Iran’s nuclear facilities and the dismantling of all equipment – under American supervision and by American execution. He noted that if this does not happen and Iran drags out the talks, a military option should be used. “Everyone understands that. I discussed this at length with President Trump,” Netanyahu said.

There is no way Iran would ever agree to Americans blowing things up in the country. There will be some talks this weekend but Iran already cast doubt on them.

I would guess the base case is US/Israel strikes on Iran at this point but it’s unknown how are they will go, including hitting oil production and export facilities. It’s also possible that Iran strikes oil facilities elsewhere.

WTI crude oil is trading up 21-cents today to $60.88 and bombs could catch the market short.

This article was written by Adam Button at www.forexlive.com.