MAcron: Believe the conditions are in place for a rapid return to negotiations between Iran and US

• French President Macron has said that he can sense a common desire from both the US and Iran to move forward.
• Saudi Arabia is still putting private pressure on the US administration not to limit a response to attacks on oil facilities. 

French President Macron has said that he can sense a common desire from both the US and Iran to move forward.

• It would be possible to lift US sanctions if there were clear commitment from Iran on nuclear and regional activities.
• Believe the conditions are in place for a rapid return to negotiations between Iran, US and others.

His statements follow yesterday's news that Iran was responsible for the attacks on two Saudi oil facilities earlier this month, according to the leaders of the United Kingdom, France and Germany said, which was encouraging a sharp response from Iranian officials. 

The leaders issued a joint statement on Monday as British Prime Minister Boris Johnson hinted that the UK may withdraw from the Iran nuclear deal, as US President Donald Trump did last year. 

Market implications:

The September 14th drone attacks, which were claimed by the Houthi rebels in Yemen, escalated tensions in the Middle East and sent WTI soaring at the start of last week. However, there seems to be an air of calmness again and diplomacy is the way the US and world leaders wich to handle the situation, which has lead to a pullback in world oil prices. However, it would appear that Saudi Arabia is still putting private pressure on the US administration not to limit a response to the attacks seeking additional troops to defend the oil facilities.