[size=36]Falling oil prices in world markets[/size]
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Oil prices fell slightly, today, Tuesday, due to the recent progress in last-minute talks to revive the 2015 nuclear agreement with Iran, which will pave the way to boost its crude exports to the market.
Brent crude futures fell 18 cents, or 0.19 percent, to $96.47 a barrel by 04:49 GMT, chopping 1.8 percent from the previous session.
US West Texas Intermediate crude futures were down 16 cents, or 0.2%, at $90.60 a barrel, after rising 2% in the previous session.
Late on Monday, the European Union submitted a "final" text to revive the 2015 Iran nuclear deal, pending approvals from Washington and Tehran.
Iran can increase its oil exports by between 1 million and 1.5 million barrels per day, or up to 1.5% of global supplies, within six months, so the markets will likely witness a sharp decline in oil prices.
The oil market has remained under pressure recently due to global recession fears, as Brent crude prices suffered their biggest weekly decline last week.