After years of talks, Iran and six major powers clinched a historic nuclear deal Tuesday, sending oil prices lower.
The agreement will see some sanctions on Tehran eased in exchange for restrictions to its nuclear program. In a tweet, Iranian President Hassan Rouhani said the deal showed that "constructive engagement works."
Oil prices came under pressure following the news, in anticipation of Iran bringing more oil onto the market and forcing prices down. However, experts suggest this could be a couple of years off as Iran will need to invest in infrastructure to come back online. Brent crude fell 2 percent on the news, but pared losses to trade around $57.63 a barrel at 1 p.m. London time.