Oil prices plunge again as global Iranian oil expected

Oil prices have started a plunge at the close of the markets yesterday.

This is following the announcement of a framework reached between the United States and Iran on its nuclear program. As it is, it is certain an agreement has been reached and Iranian oil will fuel the glut that is already a custom of the market.

Brent crude responding to the expected injection of Iranian oil

Source: Investing.com Brent crude data

The fighting in Yemen had pushed up oil prices at the start of this week. It seems expectations of reviving oil prices will have to be for the future time. Too bad for oil.