Iran Nuclear Deal Would Give a Little Boost to Global Oil Supply

The prospect of a deal over Iran’s nuclear program saw oil fall sharply on Thursday. The reality is that Tehran has relatively little extra crude that it can bring back — but it could arrive in a market that’s gearing up for surplus.

Oil slumped as much as 4% in London, reversing several days of gains, after Trump, speaking in Qatar, said of Iran’s nuclear program that “I think we’re getting close to maybe doing a deal.”