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| Economy |
| Brent oil price falls after Iran framework nuclear deal |
| 2015-04-03 |
| [AA.TR] Brent crude oil price fell by four percent Thursday after Iran and the world powers' group, P5+1, reached a compromise on a framework accord. The drop raised fears in the market of a possible oil supply increase from Iran. "Solutions on key parameters of Iran nuclear case reached. Drafting to start immediately, to finish by June 30," Iranian President Rouhani said via his official Twitter account. Before Rouhani's tweet, Iranian Foreign minister Javad Zarif also said that a solution had been found by all sides. German Foreign Minister Frank-Walter Steinmeier also tweeted: "Agreement on framework for final agreement reached." Price of the global benchmark, however, immediately dived below the $55 per barrel mark after the leaders' announcements. Brent crude oil price decreased 4.3 percent to reach $54.27 per barrel at 6.30 p.m. GMT, from $56.75 barrel when it opened Thursday. |
| Posted by:Fred |
| #2 I can also imagine a scenario where the price of oil futures is very low but there's a shortage of oil actually available. |
| Posted by: Thing From Snowy Mountain 2015-04-03 22:47 |
| #1 I imagine it'll take about two months after the destruction of Gwahar Oil Field by an iranian bomb for the price of crude to stop dropping. |
| Posted by: Thing From Snowy Mountain 2015-04-03 22:46 |