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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices likely to drop after Iran nuclear deal

Posted on 25 November 2013

Oil prices are likely to drop when futures trading re-opens Sunday evening, analysts say, as the nuclear accord between Iran and six world powers potentially paves the way for more crude oil to reach the global market.
Under the deal, reached Sunday, Iran will stop all production of near-weapons grade nuclear fuel and allow the removal of Tehran’s stockpile of the fissile material, estimated to be nearly enough to produce one nuclear bomb. In exchange, Western powers will ease economic sanctions that U.S. officials estimate will provide between $6 billion and $7 billion in foreign exchange for Tehran over the next six months………………………………………..Full Article: Source


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