Oil falters as Iranian nuclear ‘proposals’ approach

Oil prices deepened their losses on Monday after Iran’s top diplomat said his country would send its “final proposals” on the nuclear issue by midnight local time (7:30 p.m. GMT).

The possibility of an agreement that would allow the return to the market of Iranian production, even though Chinese demand is suffering from a sluggish economy, caused crude oil prices to lose around 5%, to 93.28 dollars for the European Brent and at 87.52 dollars for American WTI.



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