Oil prices pull back in electronic trading on report of progress in Iran nuclear talks

32692 oil prices pull back in electronic trading on report of progress in iran nuclear talks

Oil futures declined in electronic trading Wednesday afternoon, after settling higher for the session. Prices fell after Reuters reported that Iran’s top nuclear negotiator, Ali Bagheri Kani tweeted that after weeks of intensive talks “we are closer than ever to an agreement.” In the tweet, however, he stressed that “nothing is agreed until everything is agreed.” Oil traders have been closing watching talks aimed at returning Iran to the nuclear agreement, which would likely allow Iran to contribute more oil to the global market. March West Texas Intermediate crude CLH22, -1.10% was at $91.07 a barrel in electronic trading, after settling at $93.66 on the New York Mercantile Exchange. April Brent crude BRNJ22, -1.05% was at $92.02, down from the ICE Futures Europe settlement at $94.81.

Source: Marketwatch

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