(Bloomberg) -- Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.

Latest developments

Nuclear talks between Iran and world powers could last for several more rounds, the Iranian Foreign Ministry said on Monday.

The comments came ahead of a meeting in Brussels on Thursday between Iranian and European Union diplomats to try to end the deadlock.

There have been six rounds of negotiations in Vienna to revive a 2015 deal that limited Tehran’s atomic activities in return for U.S. sanctions relief, including on oil exports.

The Brussels meeting will be “a preparatory step towards resumption of real negotiations in Vienna,” Russia’s ambassador to the International Atomic Energy Agency, Mikhail Ulyanov, said in a tweet.

It will follow a rare visit to Tehran by top EU envoy Enrique Mora last week. 

The Vienna talks have stalled since early June, just before Iranian presidential elections that brought conservative cleric Ebrahim Raisi to power. American, European and Russian officials have regularly called on his government to set a date for a new round.

Robert Malley, the U.S. special envoy to Iran, is traveling to Saudi Arabia, the United Arab Emirates and Qatar this week. He’ll discuss Iran’s “activities in the region and our attempt to negotiate a mutual return to compliance” with the 2015 accord, the U.S. State Department said.

Latest coverage

  • Iran Says Nuclear Talks Could Last for Several More Rounds
  • Iran-EU Brussels Meeting on Nuclear Deal to Start Thursday
  • Iran Plans Turkmenistan Gas Imports to Secure Winter Supply
  • U.S. Iran Envoy Malley Plans to Visit Saudi and UAE Next Week

Oil

Brent crude climbed above $85 a barrel as a global shortage of natural gas and coal ahead of the northern hemisphere’s winter boosts demand for oil. 

Oil futures are up around 70% this year, largely due to major economies recovering from the coronavirus pandemic. The delay in the Iranian talks has added to traders’ bullishness. The International Energy Agency said last week that Iran could increase production by 1.3 million barrels a day if U.S. sanctions were lifted.

Agenda

  • Oct 15-21: U.S. Special Envoy for Iran Robert Malley traveling to the United Arab Emirates, Qatar and Saudi Arabia
  • Oct. 18: Venezuela’s foreign minister visiting Tehran; press conference with Iranian counterpart expected
  • Oct 21: EU-Iran talks begin in Brussels
  • Nov. 4: OPEC+ meeting

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