What Lifting Sanctions On Iran Could Mean For Oil Prices

Published April 3, 2015 at 1:33 PM EDT

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An Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran, on Dec. 22, 2014. (Vahid Salemi/AP)

Iranian President Hassan Rouhani said today that his country will stand by the commitments it made in the nuclear deal, as long as the U.S. and other world powers stand by theirs. A big part of the framework agreement, announced yesterday, is the lifting of Western sanctions on Iran, including on the export of Iranian oil.

Oil prices fell yesterday on news of the agreement, even though it’s still unclear when sanctions on Iranian oil might actually be lifted.

Here & Now’s Jeremy Hobson talks to NPR’s Jackie Northam about the impact the lifting of sanctions could have on Iran, and on world markets.

Guest

Jackie Northam, foreign affairs correspondent for NPR. She tweets @jackienortham.