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Monday March 30, 2015

// March 30th, 2015 // Daily News

Iran’s nuclear deal and how it could affect oil
Matt Clinch | @mattclinch81
CNBC.com
As a crucial deadline in talks between the West and Iran about its nuclear program looms, analysts warned that a successful deal could further compound the glut in global oil markets.
Representatives from the U.S., U.K., France, Germany, Russia and China met once again Monday with Iranian officials at the luxury Beau-Rivage Palace hotel in Lausanne, Switzerland. Just the hint of a possible deal weighed on oil markets, with West Texas Intermediate (WTI) futures falling 1.6 percent to 48.08 a barrel by 9:00 a.m. London time, and Brent crude futures falling to $55.93 a barrel.

What deal?

The negotiations are the culmination of a 12-year standoff between the United Nations Security Council and the Middle Eastern nation. Sanctions were imposed on Iran in 2006 for its failure to halt is uranium enrichment following claims that it was trying to build a nuclear weapon. The country has repeatedly denied such claims, however, and is now seeking an end to the penalties, which have blocked the import and export of sensitive nuclear materials and frozen the assets of people involved with the program.
Meanwhile, global powers are trying to achieve a peaceful resolution which prevents Iran from building nuclear weapons and curbs it uranium enrichment, but also allows it back into the international community and relaxes the sanctions.

Will there be a deal?

With a deadline on Tuesday, March 31, negotiations are already at a key stage and are likely to continue into the eleventh hour. However, with so many potential stumbling blocks, many analysts are saying the chances of a successful accord are too close to call.
Michael Wittner, global head of oil research at Societe Generale, was a little more optimistic, however. In a research note Monday, he said there was a 70 percent chance of success. Seth Kleinman, global head of energy strategy at Citi, also said Monday that the likelihood of a comprehensive deal being done had “risen significantly.”

How much will oil fall?

Oil has already fallen in anticipation of an accord, but is expected to see a “knee-jerk” drop of around $5 if agreement is eventually reached, according to SocGen’s Wittner.
However, it is not clear how long a move lower would last. Citi’s Kleinman agreed that there could be a “short-term bearish jolt to the market.”
In terms of supply, nothing concrete would happen until a final agreement is signed at the end of June at the earliest. If sanctions were lifted on that date, 30 million barrels of crude from Iran could flood an already oversaturated market, according to Wittner.
Added to that, Iran – a member of the Organization of the Petroleum Exporting Countries (OPEC) – has previously stated that it could raise its exports by 1 million barrels a day if penalties were removed.
“The bottom line is that, aside from market psychology, we believe that Iranian crude will not become a major issue for the oil markets, from a fundamental perspective, until late 2015 or, more likely, 2016,” Wittner said in his note.

Today’s Inspiration

“I can’t help it”

by Joyce Meyer – posted March 30, 2015

I call heaven and earth to witness this day against you that I have set before you life and death, the blessings and the curses; therefore choose life, that you and your descendants may live.
– 1 Deuteronomy 30:19

When God begins to deal with us about wrong behavior, it’s easy enough to say, “I can’t help it,” but it takes real courage and faith to say, “I’m ready to take responsibility and get my life straightened out.”
Avoidance, which is not facing issues, is a major problem. Wrong things don’t go away just because we refuse to acknowledge them. We often stuff things. We hide from them, and as long as we do, they have power over us. Issues buried alive never die.
I learned that instead of feeling helpless over the thoughts that fill my mind, I can and must do something positive.
Much of our thinking is habitual. If we regularly think about God and good things, godly thoughts become natural. Thousands of thoughts flow through our minds every day. We may feel that we have no control, but we do.
God has given us the power to decide to choose right thinking over wrong. But once we make that choice, we must continue to choose right thoughts. It’s not a once-and-for-all decision, but it does get easier. The more we fill our lives with reading the Bible, prayer, praise, and fellowship with other believers, the easier it is for us to continue choosing right thoughts.

Powerful God, remind me that I can and do make choices every day. Please help me to monitor my thoughts, choosing only those that will help me overcome the devil and win the battle for my mind. In Jesus name, I pray. Amen.

From the book Battlefield of the Mind Devotional by Joyce Meyer. Copyright © 2006 by Joyce Meyer. Published by FaithWords. All rights reserved.