Oil fell by the most since in nearly two months after a report showed American crude inventories rising and Iran said nuclear talks are set to resume this month.
Futures in New York fell 3.6% on Wednesday and extended losses after the market’s close following Iran’s announcement that talks would resume on Nov. 29. A nuclear deal is seen as the first step toward potentially lifting U.S. sanctions on Iranian oil. Meanwhile, U.S. oil supplies rose to the highest since August, according to a government report.
