Interim agreement likely on freeze of parts of Iran’s nuclear program- oil prices ease in anticipation

19-Nov-13

New York's main contract, West Texas Intermediate for delivery in December, dipped to US$93.5, while Brent North Sea crude for January dipped to US$108.1, in anticipation of likely closing of international talks on Iran's nuclear program. Diplomats are close to concluding an interim agreement that would see Iran, a huge producer of oil, curb or freeze parts of its nuclear program. Negotiations between Iran and the so-called P5+1 comprising of Britain, France, USA, Russia and China plus Germany -- restart in Geneva on Wednesday after the last round failed to seal a deal.