3 hours ago
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The Islamic Revolutionary Guard Corps (IRGC) is ramping up pressure on Iranian moderates during negotiations with the US. The odds of Trump agreeing to Iranian oil sanction relief in April sit at 42.5%, up from 38% yesterday.
The IRGC’s hardline stance has cooled optimism among traders betting on Trump meeting Iranian demands. The oil sanction relief market reflects this skepticism even with the recent uptick. The largest price move was a 10-point spike to 55% at 2:39 PM, but it has since settled slightly lower.
The diplomatic meeting location market remains static at 2.8% YES, indicating low expectations for a confirmed meeting venue by June 30. The IRGC’s influence over the negotiating process likely explains the stagnation.
The market trades $14,798 daily in USDC, with a $118 order moving prices 5 points, which makes it susceptible to larger trades. This thin liquidity suggests traders are cautious about the IRGC’s dominance over moderates in the Iranian negotiating team.
The IRGC’s consolidation of control over both military responses and negotiations reduces the likelihood of a breakthrough. A YES share priced at 42.5¢ pays $1 if resolved, a 2.08x return. This bet requires believing the US will concede before the month ends.
Watch for shifts from the US administration: new concessions or statements from Trump that push back against the IRGC’s hardline stance. Any change in US tone could move market expectations quickly.
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