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Oil prices drop on hopes of Iran nuclear deal, low spare storage capacity
Singapore, 16.03.2015
Oil prices fell on Monday as spare oil storage capacity runs low and a potential agreement in nuclear talks with Tehran opened the prospect of more Iranian exports, should sanctions be eased. U.S. crude fell to $43.57 in early trading, its lowest since March 2009, before rebounding to $44.19 by 0658 GMT, still down 65 cents. Brent was trading at $54.26 a barrel, down 41 cents.
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