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    Brent: sanctions lift under threat on 16.07.2015

    This week Brent crude oil price was volatile. On Tuesday, an agreement reached on Iranian nuclear program lead to the price of oil drop to $56.41 per barrel but it grew later. Initially, the price drop was associated with markets expectations of a sharp increase in oil supply as Iranian Oil Minister declared that the country is ready to produce 1 million barrels a day. However, experts suggest that until the next year Iran’s total output cannot exceed 500 thousand barrels. 

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