US crude falls as Iran, world powers seek deal

In the previous session, U.S. crude lost 5 percent of its value as the market began to price in the possibility of a deal with Iran.

Benchmark Brent crude oil was down 35 cents at $ 56.06 a barrel.

Read MoreAngola joins Venezuela among biggest losers of oil’s tumble

Iran and six world powers (USA, China, Russia, Germany, France and Britain) tried to break an impasse in nuclear negotiations on Sunday ahead of a deadline to find a deal by Tuesday which could add oil to an already oversupplied market if sanctions against Tehran are lifted.

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