Iran nuclear deal puts oil prices under further downward pressure
by Katie Allen from Economics | The Guardian on (#6BT1)
Price of oil drops over belief that country will soon be able to resume position as one of world's biggest crude exporters, flooding already oversupplied market
Oil prices have come under fresh pressure after the historic deal on Iran's nuclear programme raised the prospect of the country being allowed to increase its crude exports.
Traders had been watching closely the marathon talks in Switzerland for any signs Iran would be given the green light to resume its position as one of the world's biggest crude exporters, flooding an already oversupplied oil market.
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