Benjamin Netanyahu to address Iran nuclear deal, sending oil higher

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Israel’s Prime Minister Benjamin Netanyahu will detail a “significant development” regarding the Iran nuclear deal on Monday.

The announcement sent oil prices higher ahead of Netanyahu’s statement, which is scheduled for 1 p.m. ET on Monday. The oil market has been on edge ahead of a May 12 deadline, when U.S. President Donald Trump must decide whether to continue waiving sanctions against Iran under the terms of the nuclear deal or restore the penalties.

The substance of Netanyahu’s message was not immediately clear, but the liberal Israeli news agency Haaretz said the prime minister could reveal new documents alleging Iran “cheated the world regarding its nuclear program.” The statement will follow an emergency meeting of Netanyahu’s Security Cabinet, Israel National News reported.

The International Atomic Energy Agency has repeatedly confirmed that Iran is sticking to the terms of the 2015 accord, which Tehran negotiated with the United States, China, France, Germany, Russia and the U.K.

Under the agreement, Iran accepted limits on its nuclear program and opened its facilities to international inspectors in exchange for the international community lifting sanctions on its economy.

Newly sworn-in secretary of State Mike Pompeo met with Netanyahu this weekend. The Trump administration has said it will withdraw the United States from the nuclear deal next month if it cannot reach an agreement with European partners to toughen the terms of the accord.

French President Emmanuel Macron is working with Iranian President Hassan Rouhani to salvage the deal, following Macron’s meeting with Trump last week.



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