Brent crude oil prices suffered dramatic losses after the announcement of a framework agreement on oil-rich Iran’s controversial nuclear program. Brent prices were off more than 3 percent to $55.17 per barrel as markets weighed prospects of Iran re-entering the global oil marketplace. A framework agreement announced Thursday in Switzerland outlines Iran’s drawback from the brink of developing a nuclear arsenal through long-range commitments and verification measures. In exchange, Iran can expect some relief from international sanctions. “Iran will receive sanctions relief, if it verifiably abides by its commitments,” a document on the deal from the U.S. State Department read. Iran in 2011 exported around 2.5 million barrels of oil per […]