WASHINGTON (Sinclair Broadcast Group) — Negotiations may conclude Tuesday in the international diplomatic effort to reach a deal on restrictions for Iran’s nuclear program, but the impact of a potential agreement on the global oil market could take much longer to play out.
The Associated Press reported Monday that negotiations in Vienna between the U.S., Iran, and several other countries are held up over a couple of issues, including Iranian demands that a United Nations arms embargo be lifted. Talks are expected to continue Tuesday.
While the lifting of economic sanctions that will probably be part of an eventual deal would mean more Iranian oil hitting the market, it could be months or years before the full effects of that change are felt.
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