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Oil Drops as Traders Weigh Outlook for Iran Nuclear Agreement

Nicholas Lua
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⚡ Quantum Brief
Oil prices declined Monday as traders assessed the likelihood of a revived US-Iran nuclear agreement, with Brent crude dipping below $71 per barrel amid ongoing geopolitical tensions. Negotiations between Washington and Tehran are expected to resume later this week, influencing market speculation about potential Iranian oil supply returning to global markets if sanctions ease. US President Donald Trump’s threat of a limited military strike on Iran added volatility, though markets reacted cautiously, with West Texas Intermediate also falling alongside Brent. American military movements in the Middle East heightened uncertainty, as investors balanced risks of conflict against the prospect of increased Iranian oil exports under a new deal. The drop follows a flat close on Friday, signaling persistent market sensitivity to diplomatic developments and regional stability amid shifting energy supply outlooks.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Oil fell as investors weighed the odds of a nuclear deal between the US and Iran, with more negotiations on the issue expected later this week as American forces mass in the Middle East.Brent dropped below $71 a barrel after closing little changed on Friday, even after US President Donald Trump said he was considering a limited military strike on Iran.

West Texas Intermediate also declined on Monday.

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Source: Bloomberg Markets

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