The powers are offering a gradual rollback of sanctions that have crippled Iran’s economy, raising concerns of an influx of Iranian oil into world markets at a time of already abundant supplies.
At the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 25, or 0.42%, to Rs 5,969 per barrel in 252 lots.
Crude oil for December delivery shed 31 cents to $93.53 a barrel on the New York Mercantile Exchange.
Major powers and Iran are scheduled to meet in Geneva on Nov. 20-22.
Iran's chief nuclear negotiator on Sunday signalled there might be a way around one of the main sticking points between Tehran and world powers, saying that while Iran has the right to enrich uranium, it does not insist others recognise that right.
Source : Reuters