Iran claims US has agreed to lift oil and shipping sanctions, markets muted 

London (Quantum Commodity Intelligence) - Iran said on Wednesday that the US had agreed to remove all sanctions on Iran's oil and shipping, and take some senior figures off a blacklist, according to online media reports citing Reuters.

The report was met with a muted reaction in the oil markets, with Brent trading at $75.52/bbl at 1200 GMT, around $0.20/b off the day's high.

The remarks, by outgoing president Hassan Rouhani's chief of staff, were consistent with previous assertions by officials in Rouhani's pragmatist camp that Washington is prepared to make major concessions at the talks, which have been underway since April in Vienna, according to the Reuters report.

"An agreement has been reached to remove all insurance, oil and shipping sanctions that were imposed by (former US President Donald) Trump," presidential chief of staff Mahmoud Vaezi was quoted as saying by Iran's state media.

"About 1,040 Trump-era sanctions will be lifted under the agreement. It was also agreed to lift some sanctions on individuals and members of the supreme leader's inner circle."

Iran has made a number of upbeat announcements in recent weeks on the progress of talks, but this is by far the most assertive claim.

Markets will are eagerly awaiting any confirmation from the US side, particularly if any lifting of sanctions are conditional.