Brent Rises Second Day After Iran Talks Fall Short of Agreement - Bloomberg:
"Brent crude rose for a second day after Iran and six world powers failed to agree on curbs to the Persian Gulf nation’s nuclear program, tempering expectations of an end to the decade-long stalemate.
Futures increased as much as 0.6 percent in London while West Texas Intermediate gained 0.3 percent. International Atomic Energy Agency chief Yukiya Amano is leading inspectors to Tehran for negotiations after Iran’s talks in Geneva with the United Nations Security Council and Germany ended without a deal. Prices also climbed as Chinese government data showed an expansion in industrial production in October.
“The market may have been too optimistic about this current process leading to an actual change like a wind-down of the sanctions,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney. “That was enough to remind the market about risk in the Middle East.”"
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