Talk is growing of a nuclear deal that could see a lifting of sanctions against Iran, a move that could turn the tap on its oil exports – something that would have significant ramifications for the volatile commodity, analysts say.
A deal on Iran’s nuclear program could be reached this week if the U.S. and other Western states had the sufficient political will and agree to removing sanctions, Reuters reported Iranian Foreign Minister Javad Zarif saying Monday.
Analysts said that while they do not expect a complete lifting of sanctions against Iran soon, oil markets are right to focus attention on the prospect.
