Commodities round-up: Crude oil price eases after hitting $94/bbl

The crude oil price saw a strong surge overnight, up to USD 94 per bbl, but since then it has eased and it’s because of the progress in the US and Iran nuclear deal talk. This has been one of the things the markets have been watching out for.

The US has said that they are restoring the sanction waivers to Iran, which means that Iran will now be allowed to nuclear co-operation projects in the international market and that opens up the way for Iran now and the markets will watch out for the oil supplies that Iran can bring to the international market – that supply is getting lost in crude oil prices because of this one development.

The markets will also watch out for what further progress is. The US has constantly said that in this quarter it will put a deal through on the table and that has taken the prices off.