With the chance of a deal with Iran over its nuclear ambitions still hoped to end with agreement; which would mean the end to Tehran wanting nuclear weapons in return for an end to its oil export sanctions; there is expectation of far lower oil prices.
With the chance of a deal with Iran over its nuclear ambitions still hoped to end with agreement; which would mean the end to Tehran wanting nuclear weapons in return for an end to its oil export sanctions; there is expectation of far lower oil prices. The additional supplies adding to the current glut could push prices down to $40 a barrel according to a new report from TD Economics. Other conditions that could see the new low reached include a lack of storage in the US with some analysts saying that repositories are already three-quarters full.
