By Dan Calabrese ——Bio and Archives--July 13, 2015
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Iran and six world powers are reportedly on the brink of finding a nuclear deal that would bring sanctions relief in exchange for curbs on Tehran's nuclear program. A senior Iranian negotiator said a nuclear deal would be completed but cautioned that there was work to be done and he could not promise the talks would finish on Monday or Tuesday. "I cannot promise whether the remaining issues can be resolved tonight or tomorrow night," Iran's Tasnim news agency quoted Deputy Foreign Minister Abbas Araqchi as saying. The chance of Iran adding to a global oil surplus at a time of weak demand led some analysts to forecast more oil falls. Bank of America Merrill Lynch said U.S. crude prices "could soon drop well below our $50 per barrel target" in the third quarter of 2015.Say, here's a thought: If Obama wants to see the price of oil come down as a result of more oil flooding the market, maybe there's something he could do instead of capitulating to Iran and turning their oil lose on the global market. Anyone have an idea what it might be?
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