Iran nuclear deal talks progress International oil prices fell on August 9

As the progress of the Iran nuclear deal negotiations caused the market to worry about Iran's increased oil exports, the price of international crude oil futures fell in the overnight market, turning from falling to rising in the morning of the 9th, and the midday shock was lower, and the international oil price fell
at the close.

Light crude futures for September delivery fell $0.
26, or 0.
29%,
to settle at $90.
50 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for October delivery fell $0.
34, or 0.
35%,
to settle at $96.
31 a barrel.

UBS Group said on the 9th that after four days of indirect negotiations, the EU proposed a final draft
agreement to resume the 2015 Iran nuclear deal on the 8th.
EU officials reportedly hinted that a final decision
would be made in the coming weeks.
Brent oil prices fell
on the day as traders focused on the development of the event.

ANZ research analysts said concerns about a nuclear deal between the United States and Iran continued to cloud the oil market
.

Vivek Dhar, an energy commodities analyst at Commonwealth Bank in Australia, said that while details of the timing of Iran's resumption of oil exports even with the resumption of the 2015 Iran nuclear deal remain unclear, Iran undoubtedly has room to increase oil exports
relatively quickly.

Dahl expects Iran to boost oil exports by 1 million barrels per day to 1.
5 million barrels per day in six months, accounting for up to 1.
5 percent
of global average daily oil supply.
Given that markets are likely not convinced that the two sides can reach an agreement, the resumption of the 2015 Iran nuclear deal will likely lead to a sharp drop
in oil prices.

Phil Flynn, senior market analyst at Price Futures Group, said, "Don't expect the Iran nuclear deal to resume, Iran is just using negotiations to gain more time.
"

UBS said it remained positive about the outlook for the energy sector and expected Brent crude futures to recover to $125 a barrel by the end of the year
.

According to survey data released by S&P Global later on the 8th, analysts believe that U.
S.
commercial crude oil inventories increased by 600,000 barrels month-on-month last week, while gasoline and distillate inventories are expected to fall by 1.
2 million barrels and 900,000 barrels
, respectively.
U.
S.
refinery runs are expected to rise 0.
8 percentage points to 91.
8 percent
last week.