finance
Brent Crude Falls More Than 4 Percent After Iran Deal Reports
Brent crude prices declined more than 4 percent and several risk-sensitive currencies rose after media reports indicated negotiators were nearing an agreement on Iran's nuclear program. Iranian state media outlet Tasnim News Agency carried the reports.
May 24, 6:09 PM·1m read1 source
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Brent crude oil prices fell more than 4 percent in early trading after reports emerged that negotiators were approaching an agreement. Risk-sensitive currencies strengthened at the same time. The price movement followed coverage by Tasnim News Agency indicating that talks were advancing.
Market participants reacted to the possibility of reduced supply concerns. Trading desks noted the move in both energy futures and foreign-exchange markets. No official confirmation from negotiating parties was included in the initial reports.
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