Related Articles
Forward article link
Share PDF with colleagues

Brent falls as Iran reaches deal to halt nuclear enrichment

Brent and WTI prices fell in November as Iran reached a deal with the international community to halt its nuclear enrichment programme in return for a modest easing of economic sanctions

On 24 November, the US and five other nations reached a deal with Iran to curb its nuclear development in exchange for up to $7 billion in relief from economic sanctions over the next six months. Brent oil prices fell by more than $2 per barrel (/b) on 25 November, to $108/b. WTI also fell by around $1/b on the day, to around $93/b. As part of the deal, $4.2bn of Iran’s frozen oil assets will be released and it will be allowed to continue exporting oil at current levels of around 1m b/d. Deutsch Bank said in a 2 December note it expects oil markets to be sensitive to the possibility of Iranian sanctions easing over the next six months. Brent and WTI were trading around $109/b and $92/b re

Also in this section
Nigeria's election hangs over energy sector
19 April 2018
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Syria: ruthless business as usual
18 April 2018
The joint US-UK-French strikes on chemicals targets in Syria won’t affect the war—but they could damage Trump's image in the region
Elections a new rupture point in Venezuela crisis
16 April 2018
A Maduro loss in May's election could be a turning point, but recovery will be lengthy