Oil Prices Plummet as Iran Nuclear Deal Appears ‘Imminent’
Oil prices fell sharply on Monday on reports suggesting that Iran and Western countries were close to striking a deal that would lift sanctions on crude supply from the West Asian nation.
West Texas Intermediate futures, the U.S. crude benchmark, sank over 1% to $89.39 a barrel, while London-traded Brent oil futures fell 0.5% to $95.59 a barrel by 20:01 ET (0002 GMT).
Qatar news organization Al Jazeera reported over the weekend that an Iran Nuclear deal was ‘imminent’, while other reports said Tehran was ready to drop its demand that the Islamic Revolutionary Guard Corps be removed from the U.S. State Department’s List of Foreign Terrorist Organizations.
Iran’s demand for the corps was a major sticking point for the deal, and had so far impeded negotiations with the U.S., which were facilitated by the European Union.
https://m.investing.com/news/commod...as-iran-nuclear-deal-appears-imminent-2877019
Oil prices fell sharply on Monday on reports suggesting that Iran and Western countries were close to striking a deal that would lift sanctions on crude supply from the West Asian nation.
West Texas Intermediate futures, the U.S. crude benchmark, sank over 1% to $89.39 a barrel, while London-traded Brent oil futures fell 0.5% to $95.59 a barrel by 20:01 ET (0002 GMT).
Qatar news organization Al Jazeera reported over the weekend that an Iran Nuclear deal was ‘imminent’, while other reports said Tehran was ready to drop its demand that the Islamic Revolutionary Guard Corps be removed from the U.S. State Department’s List of Foreign Terrorist Organizations.
Iran’s demand for the corps was a major sticking point for the deal, and had so far impeded negotiations with the U.S., which were facilitated by the European Union.
https://m.investing.com/news/commod...as-iran-nuclear-deal-appears-imminent-2877019