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Oil prices rise to $57 as Iran talks drag on

2015-07-08 62 Dailymotion

Oil prices bounced back from a three month low on Wednesday due to a larger than forecast drop in US crude stocks.<br /><br /> Brent crude rose 50 cents at $57.35 a barrel while US crude was up 40 cents at $52.73.<br /><br /> But prices could come under pressure again if China’s stock market crash hits the wider economy and demand in the world’s second-largest oil consumer slows.<br /><br /> Also Iran and six world powers hope to reach agreement by Friday to lift sanctions and allow more Iranian oil onto world markets, which would lower prices.

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