Iran's Araghchi: Iran continues to give diplomacy a chance to succeed

Post from Iran's foreign minister on twitter: While our Brave Armed Forces are fully prepared to defend the Homeland, Iran continues to give diplomacy a chance to succeed.

We remain in close and ongoing contact with intermediaries to review ideas that can ensure implementation of our 7-Day Plan in even less than a week.

This is the first real confirmation of the seven-day plan, which could start as soon as Monday.

That's more of a rumor than fact but there are some real diplomatic processes underway.

Meanwhile, the US military is ramping up preparations for strikes so there's a carrot and stick approach here.

I'd say the market is about 85% priced for strikes, so this is all seen as a long-shot.

I wonder if Trump loses badly in the midterms -- in large part due to the war -- and concludes that the only way to salvage is legacy is regime change at any cost.

Oil initially dipped on this but has mostly rebounded.

This article was written by Adam Button at investinglive.com.