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British embassy as Britain’s Foreign Secretary Philip Hammond visits Iran to reopen it on August 23, 2015 in the capital Tehran.

An increase in Iranian crude oil production of around 600,000 barrels per day is likely in the latter half of next year, a U.S. federal report found.

Almost four years after protesters stormed the UK Embassy in Iran, triggering a drastic breakdown in relations, Britain is restoring its diplomatic presence in Tehran.

Kerry also warned that the U.S. could lose its military standing in the world should Congress reject the deal and insist its allies concede to U.S. sanctions on Iran. “I’ve decided I must oppose the agreement and will vote yes on a motion of disapproval“. It...

Additionally, several members of Congress reported late last month that an adviser to French President Francois Hollande had told them that Congressional rejection of the current deal could be the basis of reopening negotiations and getting a better deal.

Spot prices of Western Canada Select (WCS), a marker for heavy, diluted bitumen from Alberta’s oil sands sank to a 12-year low near $20 a barrel. WTI may drop to $US32 on the persisting global surplus, Citigroup Inc. said in a report August 19.

October U.S. crude was down 87 cents or 2.1% at $40.44 per barrel having at one time touched a low of 6 ½ years at $39.86 per barrel during the day. At the same time the global benchmark Brent fell 2.5% down to $45.46 per barrel.

U.S. Senate Majority Leader Mitch McConnell touts himself as a free trade advocate, but he’s warning that how tobacco is treated in a potential Pacific Rim trade

US crude oil fell towards $40 a barrel on Thursday after overnight data surprised analysts with a jump in US oil inventories.

Critically, it lifts punishing economic sanctions on Iran “in exchange for only temporary limitations on its nuclear program – not a rolling back, not a dismantling”, Menendez said.

Schumer’s New York colleague, Sen.

Also Thursday, Obama sent a letter to Rep. Jerry Nadler, a New York Democrat, defending the deal and urging him to support it.

Sen. Menendez will “vote to disapprove the agreement and, if called upon, would vote to override a veto“, according to remarks prepared for a speech at Seton Hall University in South Orange, New Jersey.

Elkin, who is one of the politicians closest to Prime Minister Benjamin Netanyahu, said he was disappointed that the rabbis have not joined efforts to persuade Congress to reject the deal next month when it will vote on the controversial agreement. Maybe Iran will desist from its...

“Such statements misrepresent the way in which we will undertake this important verification work”, global Atomic Energy Agency Director General Yukiya Amano said. “They do not compromise our … standards in any way”.