Though the Greek deal might be over, negotiations have only started between Iran and western nations to broker a nuclear deal. The talks between Iran and six world powers have reached the make-or-break point, now. Officials have warned that diplomacy could fail if there is no final agreement by tonight.

In the event of a deal being reached, the focus will turn to the specifics and the diplomacy required to successfully implement the deal. A successful deal may result in some Iranian oil creeping out of storage in the interim.

Crude Prices Crude is trading lower as markets await the outcome of those talks. Brent is down over a percent at 57 dollars a barrel. WTI Nymex is also more than a percent lower at the 52 dollars mark.

By CNBC