How Iran Could Jeopardize the Rise in Oil Prices

Crude oil prices fell from their three-month highs after Iran indicated that it would not agree to a production freeze until it reached four million barrels per day in production. After the announcement, crude oil prices fell nearly 8% to $36 per barrel by March 15 as traders speculated that the move could be a deal breaker. Prices rebounded a few days later after OPEC officials indicated that an Iranian exemption would not be a deal breaker.