Oil Stuck Near $68 as Questions Swirl Around Iran Nuclear Deal - Bloomberg

Oil Stuck Near $68 as Questions Swirl Around Iran Nuclear Deal - Bloomberg:

"Oil circled around $68 a barrel as traders sifted mixed messages on the Iran nuclear deal.


Futures in New York traded in the narrowest range since January this week. Investors were waiting to see whether the nuclear accord that Iran signed with world powers in 2015 will remain. U.S. President Donald Trump said at a press conference Friday that it needs to ensure that Iran “doesn’t even get close” to nuclear weapons, while German Chancellor Angela Merkel said she told Trump the Iran deal is part of a bigger Middle East picture.

“There’s lots of rhetoric around dispensing with the Iran deal and reimposing sanctions, which will further constrain the market,” said Rob Haworth, who helps oversee $151 billion in assets at U.S. Bank Wealth Management in Seattle. “You’ve got fears of further shutdowns of production supporting the market.”"



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