Jittery Markets Seek an Iran ‘Off-Ramp’

The U.S. has been building up its military presence in the Middle East, and markets have grown uneasy as President Trump weighs possible strikes against Iran as soon as this weekend. Brent crude climbed above $71 a barrel on Thursday, a level it last reached in July, while S&P 500 futures and European stocks were down.

Mr. Trump has pressed Tehran to abandon its nuclear program and stop enriching uranium. U.S. and Iranian officials have held indirect talks in Geneva, but some administration figures doubt a breakthrough is likely, and Israel has been making preparations for a possible war.

Tehran, by contrast, says it has reached a "set of guiding principles" with Washington after the talks. Analysts warn that a collapse of the talks—or direct military action—could push oil prices sharply higher.

Iran, Middle East

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