Oil Extends Losses After Iran, World Powers Agree Outline Deal

Oil extended losses after Iran and world powers said they reached an outline accord that keeps them on track to end a decade-long nuclear dispute.

Brent for May settlement declined $2.77 to $54.33 a barrel on the London-based ICE Futures Europe exchange at 1:32 p.m. New York time.

West Texas Intermediate for May delivery fell $1.73, or 3.5 percent, to $48.36 a barrel on the New York Mercantile Exchange.

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