Middle East

Oil price could ease if Iran agrees to talk: Gunvor

A general view of the Bushehr nuclear power plant, some 1,200 km south of Tehran in this October 26, 2010 file photo. REUTERS/IRNA/Mohammad Babaie/Files

DAVOS, Switzerland: Oil prices could fall if Iran agrees to resume negotiations with the West over its nuclear programme, the chief executive of Swiss-based trading house Gunvor has said.

Torbjorn Tornqvist told Reuters geopolitical tensions across the Middle East and North Africa had the potential to push oil markets higher but an easing of tension with the Islamic republic could have the opposite effect.

"Iran is key to this. If they agree to return to the table there could be some easing in prices," he said in an interview.

Tornqvist said Gunvor was looking to "expand geographically where there are opportunities, such as in United States, which today has many opportunities in oil and gas".





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