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Oil Falls After France And Iran Said Are Close to Nuclear Deal

Adel 17 February, 2022 1:15 pm Commodities, Market Update

Oil fell more than 2% in early Asian trading on Thursday after France and Iran said the parties were close to reaching a consensus to save Iran’s 2015 nuclear deal with world powers, countering the impact of continuing concerns about the situation in Ukraine.

US West Texas Intermediate crude fell $2.50, or 2.7 percent, to $91.16 a barrel by 0058 GMT, after closing up 1.7 percent in the previous session.

Brent crude fell $2.43, or 2.6 percent, to $92.38, after ending trading on Wednesday with a 1.6 percent increase.

France said on Wednesday that the decision to save Iran’s 2015 nuclear deal with world powers has only days left and that it is now up to Tehran to make the political decision, while Tehran called on Western powers to be “realistic”.

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