Oil prices up more than $1, potential Iran deal impact seen taking months

April 6, 2015 1:15 AM

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Oil prices up more than $1, potential Iran deal impact seen taking months

SINGAPORE (Reuters) - Oil prices rose more than $1 a barrel in early Asian trade on Monday, as last week's framework deal between Iran and global powers on Tehran's nuclear program offers little chance for any significant increase in exports until 2016.

International benchmark Brent tumbled as much as 5 percent on Thursday after a preliminary deal was reached with Iran, paving the way for more Iranian oil onto world markets if a comprehensive deal is reached by June.

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