Oil falls after “constructive” talks on Iran’s nuclear deal
Oil prices fell on Monday after Iran described emergency talks on a multi-party nuclear agreement with a group of signatories as “constructive”, suggesting an easing of tensions in the Middle East.
Brent crude futures were down 23 cents, or 0.4 per cent, at $63.23 a barrel by 0054 GMT. Prices rose 1.6 per cent last week.
US West Texas Intermediate crude was down by 12 cents, or 0.2 per cent, at $56.08 a barrel. WTI gained 1 per cent last week.
An emergency meeting with parties to Iran’s 2015 nuclear deal was constructive but there are unresolved issues and Tehran will continue to reduce its nuclear commitments if Europeans fail to salvage the pact, Iranian official Abbas Araqchi said on Sunday.
