Oil prices settled lower on Tuesday as traders awaited outcome of the Iranian nuclear talks, which could pave the way for more Iranian crude oil adding to a persistent global oil glut.
crude for delivery in May CLK5, -0.50% settled at $47.60 a barrel, down $1.08, or 2.2% from Monday’s settlement. Based on the front-month contracts, prices lost 4.3% for the month and were down 10.6% for the quarter.
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