Oil Surges With Iran Saying Differences Remain on Sanctions Deal
- Iran, world powers to return for talks this week on the accord
- WTI futures top $66 a barrel alongside broader market rally
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Oil climbed the most in a month after Iran said that gaps remain in negotiations aimed at reaching a deal to end U.S. sanctions on its crude.
Futures rose 3.9% in New York on Monday with added support from a weaker dollar, which makes commodities priced in the currency more attractive, and a rally in U.S. equities. Iran said there are still differences around the timing of when countries will return to compliance with the original 2015 nuclear agreement, allaying some concern about a rapid ramp-up in the Persian Gulf nation’s output.