Platts on oil prices extending their drop - Iran & inventory

Platts have their recap up on the oil price fall extending during Asia time:

• pressured by news that Iran and Western powers were set for broader talks on the Asian country's nuclear program before end-November, setting the stage for the return of Iranian oil.
• Reports of large inventory builds in the US also added pressure on prices

On those, the inventory report posted overnight:

• EIA weekly US oil inventories +4267K vs +1914K expected

And, the info on Iran:

• ICYMI - Iran and the EU have agreed to restart negotiations on rebooting the 2015 nuclear accord

Platts piece is here for more.

I think the return of Iranian oil will be a long, drawn-out process, Platts agree:

• Analysts cautioned that negotiations will likely be a lengthy process and won't result in a quick return of Iranian oil to the market.