Oil drops on Iran’s agreement to allow nuclear inspectors

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Crude slipped as Iran agreed to let Western nuclear inspectors into the country, easing concern that the conflict over its atomic energy program would disrupt Mideast supplies.

Prices fell as much as 0.8 percent after Yukiya Amano, secretary-general of the International Atomic Energy Agency, announced the accord with Iran today in Vienna. The Organization for Economic Cooperation and Development said Europe’s debt crisis risks spiraling and seriously damaging the world economy.

Full Article: Oil Drops On Iran’s Agreement To Allow Nuclear Inspectors