Oil prices tumble on Iran nuclear accord

Oil prices tumbled Tuesday after Iran and six world powers reached a nuclear accord that clears the way for Tehran to unleash its oil onto world markets at levels not seen since the West imposed sanctions.

Brent crude and West Texas Intermediate oil futures both fell around 2 percent after the announcement, according to USA Today.

Iran has about 157,530 million barrels of oil in reserve, making it the fourth largest with about 10 percent of the world's proven oil stores.

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