Oil prices soar ahead of Iran nuclear deadline

Source: Marketwatch
© Scanpix/AP
Oil prices advanced, as negotiations on Iran's nuclear deal was set to miss the Tuesday's deadline. London-traded August Brent crude futures soared 1.5% to $62.93 a barrel and the New York-traded WTI futures for August rose 0.9% to $58.82 a barrel. If a deal were to be struck between Tehran and the West, it would allow Iran to export oil to already oversupplied market and consequently drive oil prices lower. 
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