Oil prices settled lower on Thursday (May 15) on expectations for a US-Iran nuclear deal that could result in sanctions being eased and more barrels released onto the global market.
Brent crude futures settled down US$1.56, or 2.36 percent, to US$64.53 a barrel. US West Texas Intermediate crude futures settled down US$1.53, or 2.42 percent, to US$61.62.