Iran Nuclear Deal Seen Cutting Oil Prices by $15 a Barrel

April 8, 2015 6:40 AM

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Oil prices could tumble $15 a barrel next year if sanctions are lifted following a final nuclear deal with Iran, according to the Energy Information Administration.

Iran and world powers reached a preliminary agreement on April 2 that set the parameters for further negotiations needed to complete an agreement by a June 30 deadline. The re-entry of more Iranian barrels could cut the agency’s price projection by $5 to $15 a barrel, the EIA said Tuesday.

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