Iran deal shakes up outlook for oil

Does a deal with Iran spell a long-term downtrend in the price of oil?

The initial response by markets to last weekend's breakthrough in negotiations between Iran and the West was relatively modest, with oil prices easing around 1% on Monday, says Christopher Helman on Forbes.com.

In practice, that looks a sensible reaction, given that what was announced was purely an interim deal of limited scope. "No one is expecting any flood of Iranian crude back to the market [and] the White House insists that sanctions on Iran's oil and banking sectors remain in place." But if these first steps lead to a long-term solution, the effects will quickly be seen.

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