Oil prices stabilized on Tuesday after Monday's slide as traders questioned how quickly the Iranian nuclear accord could translate into higher supplies, while the yen came off a four-year trough against the euro. The Thai baht slipped 0.3 percent to a 11-week low of 32.080 per dollar on heightened political uncertainty as anti-government protesters forced their way inside the country's Finance Ministry and burst through the gates of the Foreign Ministry compound, in a bid to oust Prime Minister Yingluck Shinawatra. U.S. crude prices added 0.3 percent to $94.37 a barrel, recouping some of the previous session's 0.8 percent decline following a weekend deal between the West and Tehran to halt Iran's most sensitive nuclear activities in exchange for some relief from sanctions. "The interim six-month 'freeze' agreement just reached on Iran's nuclear program should not have any impact on oil prices, aside from short-term sentiment, because core sanctions on oil and banking have not been touched," Societe Generale said in a note.
via Business News - Yahoo Finance http://finance.yahoo.com/news/oil-prices-stabilize-iran-deal-024813913.html
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