Oil Prices Fall On News Of Iran Deal

(Undated) -- Traders in Asia are reacting positively to news of a deal on Iran's nuclear program, dropping the price of oil by about two-percent. Brent crude dropped by more than two dollars to 108-63 a barrel today, while U.S. light sweet crude fell 84 cents to 93-64. Economists say today's optimism is based on an easing of tensions in the Middle East and the probability that Iran will be able to increase its oil sales after a six-month waiting period.