4% Fall in Oil Due After tentative nuclear deal for Iran
Brent
oil fell nearly 4 percent on Thursday after a preliminary pact between
Iran and global powers on Tehran's nuclear programme, even as officials
set further talks in June and analysts questioned when the OPEC member
will be allowed to export more crude oil.
Traders had been fixated on the talks held in Lausanne, Switzerland for over a week as Iran tried to agree with six world powers on concessions to its nuclear programme to remove U.S.-led sanctions that have halved its oil exports.
The sanctions against Iran will come off under a "future comprehensive deal" to be agreed by June 30, after it complies with nuclear-related provisions, Iranian Foreign Minister Javad Zarif told a news conference.
Traders had been fixated on the talks held in Lausanne, Switzerland for over a week as Iran tried to agree with six world powers on concessions to its nuclear programme to remove U.S.-led sanctions that have halved its oil exports.
The sanctions against Iran will come off under a "future comprehensive deal" to be agreed by June 30, after it complies with nuclear-related provisions, Iranian Foreign Minister Javad Zarif told a news conference.
