Oil Falls as Likely U.S.-Iran Deal Stokes Supply Worries

0146 GMT — Crude-oil prices are lower in early Asian trade. There are fears that a possible U.S.-Iran nuclear deal could lead to more oil supply entering the market, ANZ analysts say in a note, citing media reports from the Middle East of progress in talks. Any agreement to restore the 2015 nuclear deal could lead to the removal of U.S. sanctions which have curtailed exports of Iranian oil into the global market, ANZ adds. The front-month WTI contract falls 0.4% to $70.99/bbl, while the Brent crude contract is also 0.4% lower at $75.65/bbl. (yiwei.wong@wsj.com)