Oil to still cause volatility even with U.S.-Iran deal in place: Analysts

While markets cheer the tentative U.S.-Iran peace deal, oil-price volatility could persist in the near term, analysts say. Global oil inventories, which have declined to low levels due to the prolonged closure of the Strait of Hormuz, will need time "to be rebuilt and are likely to fall further before new supplies begin to arrive from the Gulf," according to a note from Westpac. …