Recapping the day's news and newsmakers through the lens of CNBC.
Warm and fuzzy ... Iran?
Will the warm and fuzzy vibes from Iran's new president, Hasan Rouhani, bring lower oil prices? Some experts think the conciliatory signs are genuine, as Iran has been hammered by sanctions on oil exports and faces potential attack over its nuclear program. Some think better relations with the U.S. could result in a larger flow of Iranian oil and, perhaps even more importantly, would ease regional tensions that help keep oil prices high. Others caution that the West is still a long way from lifting the sanctions.
"Anything that reduces the tensions will certainly help oil prices move lower. We've already had the Syrian premium coming out of the market ... The Iran premium, I've got to believe that it's somewhere around $10 a barrel."—Addison Armstrong of Tradition Energy
"I wouldn't expect much of a drop in the price of oil just because of the diplomatic outcome. The Iran premium that's in the price right now has been the actual reduction in supply. It will take an act of Congress to remove the sanctions."— Rhodium Group partner Trevor Houser