Brent oil price rises over $1 after nuclear talks
Brent price rose to USD 106.18 on November 11, 2013.
Mon Nov 11, 2013 6:8PM GMT
Brent crude oil price rose over one dollar per barrel after Iran and the six world powers failed to reach an
agreement over the issues regarding Tehran’s nuclear energy program.
Brent price rose USD 1.06 a barrel reaching USD 106.18 on Monday after touching a high of $106.40. Market
analysts say any increase in Iranian oil supply can decrease crude prices, as the sanctions against Tehran have
removed over one million barrels per day (bpd) of oil from the global markets. Intensive nuclear talks between Iran
and the six world powers began in Geneva, Switzerland, on Thursday and ended on Sunday. Iran and the six
powers could not reach a deal over Tehran’s nuclear energy program in the three-day talks in Geneva, but the two
sides stressed significant progress had been made and expressed optimism about the prospect of achieving a
deal. Tehran and the five permanent members of the UN Security Council plus Germany will continue their nuclear
negotiations in Geneva on November 20
Brent Crude Historical Chart
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