The deadline for an Iranian nuclear deal on June 30 remains crucial for the current situation in oil markets as it could cause another round of oversupply issues, analyst Daniel Ang at Phillip s says. “We believe the only matter left to decide is the speed at which Iranian crude would flow into the market,” he says. He says a deal shorter than two years would be devastating for oil prices as this would mean that an excess of 0.8 million barrels/day of Iranian crude flowing into the market at a pace faster than demand could correct for. Nymex oil s are down 13 cents at $59.48/bbl, Brent crude is down 14 cents at $62.88/bbl.