"Oil looks to whole new world with Iranian oil"

From Futures Magazine:

The global oil market (NYMEX:CLZ13) is entering a whole new world. A world that many oil traders have never seen because it has been years since the market has not had to price in a high Iranian risk premium. Word that a deal is imminent that should allow Iran to sell its oil on the global market is already causing moves in the oil market place.  Brent crude will benefit and already Iran is trying to cement relationships to try to woo customers.

Fox News reports that:

Secretary of State John Kerry will fly to Geneva on Friday to participate in the negotiations between Iran and six world powers on a deal to cap some of the country's atomic programs in exchange for limited relief from sanctions stifling Iran's economy.  Kerry's visit comes as Iran's chief nuclear negotiator signaled progress at the negotiating table, saying the six had accepted Tehran's proposals on how to proceed, even as Israeli Prime Minister Benjamin Netanyahu called the emerging agreement the "deal of the century" for Iran.

A senior state department official said Friday that Kerry has been open to the possibility of traveling to Geneva for the talks "if it would help narrow differences." The official said European Union's top diplomat, Catherine Ashton, asked Kerry to attend the latest round of discussions.  The official, who spoke to reporters on condition of anonymity, called the negotiations "a complex process" and said Kerry was "committed to doing anything he can" to help....MORE