What's Driving Rumors Of A New Iran Nuclear Deal?

Oil markets very briefly (and dramatically) reacted to rumors this week that an Iranian nuclear deal is back on the table. For some reason, even a whisper of this sends oil prices spiraling down on the notion that millions of barrels of Iranian oil will very suddenly be flooding the market. A report suggested that Washington would ease Iranian sanctions in return for an Iranian reduction in uranium enrichment. Of course, the report was then denied as false and misleading by both Washington and Tehran, but it did seem to suggest that not only OPEC…