Iran Nuclear Deal Reaches Final Phase
Author: Icon8888 | Publish date: Mon, 13 Jul 2015, 01:08 PM
Today, many export oriented companies are among the top gainers in Bursa.
This is believed to be related to news that Iran nuclear negotiations is reaching its final phase. If successful, the deal might be concluded within next few days.
Iran has the fourth largest oil reserves in the world. Conclusion of the nuclear deal will allow it to resume export of oil to internatinal market.
If that happens, oil price is expected to remain low for quite some time. This will keep the Ringgit weak and benefits exporters.
In anticipation of the deal, Brent Crude declined by more than 1 US Dollar today.
However, I would like to caution that there are still uncertainties whether the deal can indeed be concluded. Please be careful with your trading activities.