Oil drops to $55 as Iran nuclear talks intensify

March 31, 2015 9:49 AM

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Oil drops to $55 as Iran nuclear talks intensify

LONDON (Reuters) - Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets.

With a self-imposed deadline set for the end of the day, the United States, Britain, France, Germany, Russia and China ramped up the pace of negotiations with Iran in Switzerland over an outline deal on Tehran's nuclear program.

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