Oil futures declined on Thursday, posting a loss of 2% as reports of progress in the Iran nuclear talks raised the potential for a release of more oil into the global market. “As the Iranian nuclear talks enter the final stage, we reiterate our view that if a new agreement is indeed reached, the country’s exports would likely climb” by 500,000 barrels in six months, and by 1 million barrels in 12 months, analysts at RBC Capital Markets wrote in a Thursday research note. Traders, however, continued to monitor developments tied to a potential Russian invasion of Ukraine, which could disrupt global energy supplies. West Texas Intermediate crude for March delivery fell $1.90, or 2%, to settle at $91.76 a barrel on the New York Mercantile Exchange.
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