Skip to content

Goldman Says Iran Nuclear Deal Is ‘Unlikely’ After Oil Tumbles

  • Benchmark Brent near six-month low on possibility of accord
  • Existing stalemate ‘beneficial’ to both US, Tehran, bank says

A deal to revive a nuclear agreement between Iran, the EU and the US is unlikely to be struck in the near term, according to Goldman Sachs Group Inc., which said that even if a pact were agreed, additional oil wouldn’t flow until next year.

“Our view continues to be that a deal is still unlikely in the short term, with a stalemate mutually beneficial,” analysts including Callum Bruce said in an Aug. 16 note. Even with a breakthrough, there would likely be a “phased implementation,” with barrels unlikely to return until the start of 2023 at the earliest, they said.