President Trump indicated the U.S. was close to a deal in which Iran agrees to forgo nuclear weapons, sparking a selloff in oil prices. "You probably read today the story about Iran has sort of agreed to the terms,

The prospect of a deal over Iran’s nuclear program saw oil fall sharply on Thursday. The reality is that Tehran has relatively little extra crude that it can bring back — but it could arrive in a market that’s gearing up for surplus.

Wall Street is veering lower while oil prices are down more than $2 a barrel as traders bet on a possible U.S.-Iran nuclear deal.