Oil jumps after Trump says he's "much less confident in Iran deal" ...Middle East

That has led to strong gains in crude with WTI up $1.25 to $66.23.

“They seem to be delaying, and I think that’s a shame, but I’m less confident now than I would have been a couple of months ago. Something happened to them, but I am much less confident of a deal being made," Trump said.

He was then asked what will happen to Iran.

“Well, if they don’t make a deal, they’re not going to have a nuclear weapon,” Trump answered. “If they do make a deal, they’re not going have a nuclear weapon, too, you know? But they’re not going a have a new nuclear weapon, so it’s not going to matter from that standpoint. But it would be nicer to do it without warfare."

Technically, the gains in crude help to confirm the inverted head-and-shoulders on the daily chart that I've been writing about for over a week. It targets a return to $70-71.

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

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