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Oil declined during a volatile session as traders weighed the possibility an Iranian nuclear deal may be imminent, while tracking tensions over Ukraine that swung financial assets from gold to currencies.
West Texas Intermediate traded above US$92 a barrel after losing more than 3 percent earlier in the session. Iran’s top negotiator, Ali Bagheri Kani, tweeted that efforts to restore the deal are “closer than ever” to agreement, although the US State Department was more circumspect.
Tehran appears to be taking steps in Asia for its official return to the market, with officials from state-owned National Iranian Oil Co. meeting South Korean refiners. — Bloomberg.
Online Reporter