Iran Deal Weakens U.S. Oil
Iran Deal Weakens U.S. Oil (CNBC)
Progress towards a deal between Western nations and Iran meant to curb the latter country’s nuclear program caused crude oil to slip today. Nuclear-related sanctions against Iran have been keeping about 1 billion barrels of oil from the markets per day. In addition to this news from the Middle East, last week’s poor jobs data also continued to affect U.S. oil, contributing to its decline.