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Commerzbank Says US-Iran Deal Would Only Limit Oil Price Downside
Commerzbank analysts said a US-Iran agreement would only modestly lower oil prices, even as both major benchmark crude contracts are expected to fall more than 7% this week. The analysts said regional instability and the Strait of Hormuz are likely to keep a risk premium in place. Oil prices have remained range-bound as traders wait for new developments in the peace talks.