Oil price falls on Iran nuclear deal

The price of Brent crude oil has fallen as much as $3 per barrel, following a deal between Iran and other major world powers on nuclear activities.

The deal, which curbs the Middle East's regime on nuclear enrichment activities in return for a partial lifting of trade sanctions for a six-month period, has helped ease fears over oil supply. Brent crude oil dipped to $108.05 per barrel yesterday morning, a fall of $3, before climbing back to $110 over the course of the day. Stock markets across the globe were lifted by the deal, which prevents Iran from enriching uranium to weapons-grade level. It is aimed at increasing the amount of time Iran would need to build a nuclear weapon. Iran holds the world's fourth-largest oil res...