WTI erased early 2% gain as Iran sanction discussions announced for this week. Oil erased gains after hitting $85 a barrel for the first time since 2014 with traders focused on upcoming talks between Iran and the European Union that may lead to a revival of a 2015 nuclear deal. Futures in New York ended Monday’s session unchanged after earlier rising as much as 2%. Iran and the European Union will hold discussions in Brussels on Wednesday, the Islamic Republic’s lead negotiator said. The meeting is a prelude to the resumption of broader talks in Vienna on how to revive the pact that gave Iran sanctions relief in exchange for curbs on its nuclear program. The U.S. special envoy for Iran said talks were at a “critical phase,” and a period of “more intense diplomacy” to end the standoff was approaching. “As long as they are talking, there is […]