| Oil prices have recovered after initially plunging over the deal reached with Iran's nuclear program, as analysts ponder the details and the roadblocks that remain in its implementation. Brent crude oil fell from $US58.70 a barrel to $US56.50, as the world pondered a torrent of Iranian oil flooding the market. But by Wednesday, prices were back up at $US58.70.
"The devil is in the detail," said ANZ senior commodities strategist Daniel Hynes. "Initially the market sold off on it – I think it was down 2 per cent on the original announcement – but prices have recovered somewhat after the details emerged...............................................Full Article: Source
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