As a result of the nuclear agreement with Iran on Sunday, the world oil prices have fallen sharply and reached their lowest level in three weeks. 

Thus one barrel of Brent crude oil dropped to $108.57 and that of West Texas Intermediate (WTI) crude oil fell to $93.95, reports ITAR-TASS news agency of Russia.   

The aforesaid deal on Iran’s nuclear program was reached in talks in Geneva, Switzerland, between Iran and the five permanent members of the UN Security Council plus Germany. In line with this agreement, restrictions will be imposed upon Iran’s nuclear program, in return for substantially reducing the economic sanctions against Iran.