Energy futures prices fell sharply Monday as concerns over Iran’s nuclear ambitions eased with an announcement by the Islamic republic and Russia that they would establish a joint uranium enrichment venture.
Light sweet crude for April delivery on the New York Mercantile Exchange fell $1.76 to $61.15 a barrel. April Brent crude futures on London’s ICE Futures exchange fell $1.20 to $61.40 a barrel. Gasoline futures slid by more than 6 cents to $1.49 a gallon, while heating oil futures fell by a nickel to $1.677 a gallon.
