Oil prices slide 2% after report Trump weighed easing Iran sanctions [CNBC]
COMMERZBANK JUNGE ADR NEW (CRZBY)
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Source: CNBC
Oil prices tumbled more than 2% on Wednesday after a report that U.S. President Donald Trump weighed easing sanctions on Iran, which could boost global crude supply at a time of lingering worries about global energy demand. Market participants cited a report from Bloomberg that Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month. The Bloomberg report, attributed to three unnamed sources, said then-National Security Advisor John Bolton argued against such a step. Brent crude settled $1.57, or 2.5% lower, at $60.81 after hitting a session low of $60.52, while U.S. West Texas Intermediate fell $1.65, or 2.9% to end the session at $55.75 a barrel after sliding as low as $55.61. Bolton's departure removes one of the strongest advocates of a hard line towards Iran from Trump's White House. "The reason the market reacted so dramatically is that the biggest bearish overhang on the market is the possible re-entry of Iranian
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