Oil prices started the week in the red ahead of the looming deadline for Iran’s nuclear talks, while supply disruptions due to Saudi airstrikes on Yemen looked increasingly unlikely. Brent crude for May delivery fell 0.7% to $56 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at $48.16 a barrel, down 1.5% from Friday’s settlement. The oil market awaited the outcome of a Tuesday deadline for talks between Iran and six world powers over its nuclear program. A possible relaxation of the sanctions against the country could pave the way for increased Iranian oil exports. “If a framework agreement is reached, we would expect an immediate bearish knee-jerk reaction in the markets, with oil prices quickly losing on the order of $5,” Société Générale said in a report. But […]