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Oil prices fall sharply after Iran nuclear deal

Oil prices fell sharply today after world powers struck a landmark deal with Iran to curb its nuclear programme in exchange for an easing of international sanctions.

Oil prices fell sharply on Monday after Iran and six world powers sealed a deal curbing its nuclear programme.
Oil prices fell sharply on Monday after Iran and six world powers sealed a deal curbing its nuclear programme. Credit: Reuters

While Iran will not be allowed to increase its oil sales for six months, any easing of Middle East tensions tends to lead to lower crude prices.

Read: Can the Iran nuclear deal become a lasting accord?

US reassures Israel over 'improved' Iran nuclear deal

Israel's Prime Minister Benjamin Netanyahu has called the nuclear deal with Iran "an historic mistake" and said it has "made the world a much more dangerous place".

President Obama telephoned Mr Netanyahu this evening to say the US would remain committed to Israel.

Warning: ITV News' Middle East Correspondent Geraint Vincent's report contains flash photography:

Read: Iran reaches landmark nuclear deal with world powers

Read: It's too early to call Iran nuclear deal 'historic'

Read: Can the Iran deal become a lasting accord?

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Obama reassures Israel over US support after Iran deal

President Barack Obama has told Israeli Prime Minister Benjamin Netanyahu that he wants to begin US-Israeli consultations immediately on an effort to reach a comprehensive solution to Iran's nuclear programme, according to the White House.

U.S. President Barack Obama (R) and Israeli Prime Minister Benjamin Netanyahu meeting in September 2013. Credit: Chris Kleponis / Pool via CNP

Mr Obama reassured the Israeli leader that the United States will remain firm in its commitment to Israel, after Mr Netanyahu called the nuclear deal with Iran "an historic mistake".

"The president underscored that the United States will remain firm in our commitment to Israel which has good reason to be sceptical about Iran's intentions," said White House spokesman Josh Earnest.

Iran nuclear deal a 'turning point after difficult talks'

Germany's Foreign Minister has welcomed a nuclear deal between Iran and six world powers in Geneva today, in what is being billed as one of the most significant developments with Iran in 30 years.

Guido Westerwelle told reporters:

The agreement of Geneva is a turning point in those difficult times and after very difficult talks. We are a step closer to our goal of preventing a nuclear armament of Iran.

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Hague: UK and US to ensure Iran deal implemented

The UK and US will ensure a deal on Iran's nuclear programme will be implemented and that it does not give the country any right to uranium enrichment, the Foreign Secretary said as he met with US Secretary of State John Kerry in London.

Foreign Secretary William Hague and US Secretary of State John Kerry.

William Hague told reporters: "It is a very important opportunity for the future. And it vindicates in the future the policy of pressure through sanctions and diplomacy for negotiations in which the United State and United Kingdom have been strong partners for so long".

PM on Iran deal: A sign the pressure is working

Prime Minister David Cameron has praised the work of William Hague and John Kerry following the deal between Iran and world powers, but adds its is "nowhere near the end".

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Strong progress from @williamjhague and @johnkerry on #Iran. Nowhere near the end - but a sign the pressure is working.

Hague: New Iranian government 'different and sincere'

There has been a "very different" and "sincere" approach from Iran since the government of president Hassan Rouhani took office, Foreign Secretary William Hague said today, after a landmark deal was reached over its nuclear programme.

(Left) British Foreign Secretary William Hague with world powers. Credit: Hoobehfekr/Isna/ParsPix/ABACAPRESS.COM

Mr Hague told BBC Radio 4's World This Weekend :""This is a change in behaviour by Iran and we should respond constructively and openly to that.

This was "only a beginning", he stressed. "Can we reach such an agreement? It will be difficult but I think this agreement we reached in the early hours of this morning should give us faith in the power of diplomacy and pressure to resolve even some very intractable problems."

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