Crude falls as Iran deal to include lifting of all oil sanctions

Fresh lows in crude on the details of the Iran deal.

WTI crude fell below the earlier lows near $48.50 and down to $48.23 as reports reveal that once the deal is completed (presumably on June 30) all oil and banking sanctions against Iran will be lifted.

There was some thinking that they would be phased out. The deal means Iranian oil could be hitting the market faster. Brent is under particular pressure, down $3 to $54.67 and another 60-cents in the past few minutes.