Iran Talks Won’t Halt Oil Sanctions, Societe Generale Says

Negotiations to halt Iran’s nuclear-enrichment program will probably fail, setting the stage for full implementation of U.S. and European Union sanctions against the nation’s oil exports, Societe Generale SA said.

A release of strategic oil stockpiles will probably happen in June before the next wave of measures, Michael Wittner, global head of oil market research at the bank, said in a note dated yesterday. About 60 million barrels may be sent out with only a “brief, temporary” lowering of prices, according to the report.