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Oil prices extend fall amid events in Lausanne
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Talks between six world powers and Iran over its nuclear program passed the midnight deadline. The parties decided to continue the negotiations as the deal was not reached. According to the head of the Ministry of Foreign Affairs of Iran, the negotiations led to some results, but the agreement is yet to be hammered out.
On the background of the events, oil prices are still under pressure. Brent declined by 0.5% and traded at 54 dollars 87 cents per barrel.
Fears that the Iranian oil may enter the market in the near future are supported by the news on the rise of quotas of OPEC, possible increase in supply from Libya, and growth of the US oil reserves. According to the data from the American Petroleum Institute, the crude oil reserves exceeded expectations and advanced by 5.2 million barrels. Still there is positive information on the reduction in oil reserves which occurred last week.
Light sweet crude oil lost 0.8% and traded at 47 dollars 22 cents per barrel.
Today, the US Department of Energy will report on crude oil inventories. However, negotiations in Lausanne may have a more significant impact on the market. Experts suppose that average daily supplies from Iran can reach one million barrels, while the supply on the market already exceeds the demand.

Calendar and reviews
Trader’s calendar on March 28: Any winners in Trump’s tariff game?
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Trader’s calendar on March 20: USD to remain among gainers despite recent decline?
Trader’s calendar on March 19: Trump’s actions cause sell-off in USD
Trader’s calendar on March 18: Is USD strong enough to stay afloat?
ایڈیٹر کی پسند
Being a participant of Dakar Rally 2012, that took place in Argentina, Chili and Peru, InstaForex Company also decided to visit Brazil, Rio de Janeiro in particular, which is one of the financial centres in Latin America. Rio can be included in the geography of the partner representative offices of the broker. A trip to Brazil coincided with New Year’s Day, that was celebrated by the representatives of the company in accord to the Brazilian tradition – on the beach where they threw white roses into the ocean waves so that success always waited upon the broker’s clients.
Graeme Lowdon, Sporting Director of Marussia F1 Team, speaks about the racing results (Formula One Grand Prix in Singapore)
Trader’s calendar on March 28: Any winners in Trump’s tariff game?
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