Platts have their recap up on the oil price fall extending during Asia time:
- pressured by news that Iran and Western powers were set for broader talks on the Asian country’s nuclear program before end-November, setting the stage for the return of Iranian oil.
- Reports of large inventory builds in the US also added pressure on prices
On those, the inventory report posted overnight:
And, the info on Iran:
I think the return of Iranian oil will be a long, drawn-out process, Platts agree:
- Analysts cautioned that negotiations will likely be a lengthy process and won’t result in a quick return of Iranian oil to the market.
This article was originally published by Forexlive.com. Read the original article here.
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