Oil eases gains on reports on Iran nuclear deal3 Mar 2022 14:33
Prices of oil futures nearly gave up all of today's gains after Iranian journalist Reza Zandi reported on Thursday that a deal on the nuclear policy of Iran will be signed in Vienna in the next 72 hours. The agreement will lead to the return of Iranian oil to the global market, according to the report.
Earlier this week, West Texas Intermediate (WTI) hit its highest point since September 2008, while Brent reached levels unseen since May 2012.
WTI for settlements in April was 1.14% higher to sell for $111.86 per barrel at 8:44 am ET, while Brent for deliveries in May increased by 0.58%, going for $113.60 per barrel at the same time.
Baha Breaking the News (BBN) / MS