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Barchart
Rich Asplund

Oil Prices Lower on a Report US-Iran Nuclear Talks Will Restart

Oil United States Iran OPEC EIA Axios

August WTI crude oil (CLQ25) on Thursday closed down -0.45 (-0.67%), and August RBOB gasoline (RBQ25) closed down -0.0043 (-0.20%).

Oil prices on Thursday fell after Axios reported that the US plans to restart nuclear talks with Iran, which could eventually lead to reduced sanctions and increased Iranian oil exports.  Nuclear talks might also stave off any new military attack by Israel on Iran.  Additionally, the oil markets are nervous heading into this Sunday's OPEC+ meeting, which is expected to result in a decision for increased production.

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