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    MORNING BELL: Oil under pressure as Iran nears historic deal

    The euro slipped in Asia on Monday while top-rated bonds caught a safe-haven bid as the Greek debt crisis seemed set to rumble on for yet another week while a key reading on economic growth loomed for Chinese markets. The moves were mild, with investors wary of overreacting after having seen so many deadlines come and go with no resolution of the crisis in Greece.

    Oil prices were under pressure as Iran and six world powers neared a historic nuclear deal that would bring sanctions relief and thus more crude onto the market. The potential of Iran soon adding to global oil oversupply and the demand side weakening over China and Europe led several analysts to say that crude would fall further.

    Gold edged lower on Monday, dragged down by the euro after a weekend emergency summit to tackle Greece's debt crisis yielded no deal. Spot gold XAU was off 0.2 percent at $1,162 an ounce by 00:38 GMT, after falling for a third straight week.


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