Reports of Iran taking out nuclear-deal surveillance cameras last week and now this... I don't think the market was expecting a revival of the Iran-nuclear deal but now it's dead.

Iran is getting a windfall from its oil already and politically it's tough there to bow to the US. In terms of oil in the market, there are signs the US is ignoring sanctions-violating oil sales anyway.

The sanctions today target petrochemical and shipping companies along with two individuals. These aren't the kinds of moves you make if you're trying to make a deal.

WTI crude oil traded as low as $112.31 a short time ago but is now at $113.32.