Iran Nuclear Deal Reached. Impact on Oil Supply Not Seen Until Year Later

After 20 months' of negotiation, Iran and P5+1 power reached a historic agreement that would significantly limit the Middle East nation's nuclear ability for 15 years, in return for lifting international oil and financial sanctions. Crude oil prices initially slumped after the deal was announced. However, losses were erased and both benchmark contracts ended the day high (WTI crude: +1.61%; Brent crude: +1.14%).

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Iran Nuclear Deal Reached. Impact on Oil Supply Not Seen Until Year Later