The lag in restoring operations after the largest supply disruption in history will keep oil prices elevated for months, and will likely add a smaller premium for well over a year, experts say. On Wednesday, oil prices were falling on news that the U.S. and Iran were close to agreeing to the framework of a peace deal. Brent crude futures, the international benchmark, settled down 7.8% to $101.27. The State Street Energy Select Sector SPDR exchange-traded fund was down 4.1%, with Exxon Mobil falling 4.3%.
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