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World Oil Prices Advance, Despite Prospect of More Iranian Production

Global oil prices dropped, then advanced Tuesday as traders weighed the prospect of a flood of new Iranian oil on the world market, after Tehran and six world powers agreed to restraints on Iran's nuclear development program. Brent crude, sold through much of the world, dropped 2.3 percent in the hours after the deal was announced in Vienna, but later recovered to move up slightly to $58.23 a barrel. Early on, the price for U.S. benchmark oil declined two percent, but later rose...

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