Deal Reached in Iran Nuclear Talks

Oil plunged Thursday following news a deal in the Iran nuclear talks has been reached. Drafting of the agreement is expected to start immediately and it is expected to be finished by June 30th. Iran President Hassan Rouhani made the announcement on Twitter.

As part of the agreement, Iran agree that two-thirds of current enrichment capacity will be suspended and it will be monitored for 10 years.

On the other side, all oil and banking sanctions on Iran will be lifted.

Crude oil traded down 2.3% to $48.92 amid the headlines.

Solutions on key parameters of Iran #nuclear case reached. Drafting to start immediately, to finish by June 30th. #IranTalks

— Hassan Rouhani (@HassanRouhani) April 2, 2015

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