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Decline in oil prices after Iran nuclear deal

New York: Oil prices showed great decline after U.S. and other world powers agreed with Iran on its nuclear program.

The agreement between Iran and the six world powers does allow only that much quantity of oil which was sanctioned in 2012.

This ultimately amplified the global oil supply and shoved down oil prices. Crude oil fell 75 cents, or 0.8 percent, to $94.09 a barrel.

In other commodities, gold prices edged lower while silver prices rose. The price of wheat, corn and soybeans also rose.

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